Multiple choice

Directions: Choose the correct option for the given question.

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

  1. 31 March, 1997

  2. 31 March, 1996

  3. 1 April, 1992

  4. 1 April, 1995
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A Correct answer
Explanation

The Ad hoc Treasury Bill System was a mechanism for meeting budget deficits in India. It was indeed abolished on 31 March, 1997, as part of financial reforms to reduce automatic deficit financing.

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