Consider the following statements 1 N K Singh Committee recommended to lower fiscal deficit to 0 8 b...........

Economic Affairs Public Finance and Debt Management

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Consider the following statements.

1.N.K. Singh Committee recommended to lower fiscal deficit to 0.8% by 2022-23.

2.Gross fiscal Deficit is always less than gross primary Deficit.

Choose the correct statement/s

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

Neither 1 nor 2

"N.K. Singh Committee recommended to lower fiscal deficit to 0.8% by 2022-23." - This statement is incorrect. The N.K. Singh Committee, officially known as the Fifteenth Finance Commission, made recommendations related to fiscal matters in India, but the specific recommendation mentioned in the statement is not accurate.

"Gross fiscal deficit is always less than gross primary deficit." - This statement is incorrect. Gross fiscal deficit is a broader measure that includes interest payments, while gross primary deficit excludes interest payments. Therefore, in general, gross fiscal deficit is equal to or greater than gross primary deficit.

Therefore, the correct option is 4, "Neither 1 nor 2."

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