Q. Which of the following given statements is/are correct?

1. The Financial Stability and Development Council under Ministry of Finance was constituted on the recommendation of Urjit Patel Committee.
2. The Monetary Policy Committee was constituted by the RBI on the recommendation of Raghuram Rajan Committee.
3. The Defence Acquisition Council under Ministry of Defence is based on the recommendations of the Kargil Review Committee.
4. Asim Dasgupta Committee was responsible for a significant part of the GST framework.

Choose the correct answer using the codes given below:
Answer: Only 3 & 4
Notes: The Financial Stability and Development Council, established in 2010 under the Ministry of Finance, follows the Raghuram Rajan Committee's recommendations. The Monetary Policy Committee, formed in 2016 by the RBI, regulates inflation through the repo rate based on the Urjit Patel Committee's suggestions. The Defence Acquisition Council, the top decision-making body for policies and capital acquisition in the Ministry of Defence, was created following the Kargil Review Committee's recommendations. The GST Council, a constitutional body, advises on GST matters, with the Asim Dasgupta Committee contributing significantly to the GST framework.

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