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BPSC (Bihar PCS) 2015 · Question 76 of 135

Ad hoc Treasury Bill System of meeting budget deficit in India was abolished on

Economy

  1. A1st April, 1992
  2. B1st April, 1994
  3. C31st March, 1996
  4. D31st March, 1997Correct

Answer: D. 31st March, 1997

Explanation

Abolition Date of Ad hoc Treasury Bill System The question asks for the specific date when the Ad hoc Treasury Bill System, used in India to manage budget deficits, was discontinued. This system was a mechanism where the Reserve Bank of India (RBI) directly financed the government's deficit by issui

Source: prepp.in

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