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Multiple Choice Questions

With reference to General Financial Rules GFRs consider following statements They are a compila...........

Indian Economic System(HAS) Industry

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With reference to General Financial Rules (GFRs), consider following statements

They are a compilation of rules and orders of the Government of India to be followed while dealing with matters involving public finances.
They were first issued in 1947 and have not been modified ever since.
They are issued by the Department of Financial Services under the Finance Ministry.

Select the incorrect statement.

1&2 only

2&3 only

1&3 only

All of the above

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Explanation:

Recently, the Department of Expenditure amended the General Financial Rules 2017 to enable imposition of restrictions on bidders from countries which share a land border with India on grounds of national security.

General Financial Rules (GFRs) are a set of rules that deals with matters concerning public finances.
They were first issued in 1947, and later were modified in 1963, 2005 and the latest in 2017.
They are issued by the Department of Expenditure under the Finance Ministry.

Hence all statements are incorrect.