Multiple choice

The Ad hoc Treasury Bill System of meeting budget deficit in India was replaced by ' Ways and Means Advances System' which has come into force on

  1. March 31, 1997

  2. April 1, 1996

  3. April 1, 1997

  4. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The 'Ways and Means Advances' system was introduced to replace the Ad hoc Treasury Bill system on April 1, 1997, to better manage government cash flows.

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