Forest ServicesQ69. Consider the following statements : The 'Stability and Growth Pact' of the European Union is a treaty that 1. limits the levels of the budgetary deficit of the countries of the European Union 2. makes the countries of the European Union to share their infrastructure facilities 3. enables the countries of the European Union to share their technologies
How many of the above statements are correct?
Detailed Solution
The Stability and Growth Pact (SGP) is a set of rules within the European Union designed to ensure sound public finances among member states. Its primary function is to limit the levels of government budgetary deficit (typically to 3% of GDP) and public debt (to 60% of GDP), making statement 1 correct.
The SGP does not mandate the sharing of infrastructure facilities or technologies among EU countries; these aspects are governed by other EU policies and agreements, or are left to national discretion. Therefore, statements 2 and 3 are incorrect.
This question tests knowledge of key European Union policies, which are often in the news, relevant for UPSC International Relations.
Current Affairs Link
Stability and Growth Pact was in news during the pandemic and discussions on fiscal rules.
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