Multiple Choice Questions on In context of budgeting and deficits identify the correct statement from the given statements........ for UPSC Civil Services Examination (General Studies) Preparation

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Multiple Choice Questions

In context of budgeting and deficits identify the correct statement from the given statements........

Economic Affairs Public Finance and Debt Management
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    In context of budgeting and deficits identify the correct statement from the given statements

    Revenue Deficit refers to excess of total expenditure over total receipts in the current year

    Incorrect Answer

    Fiscal deficit refers to the excess of the total expenditure over total receipts minus borrowings.

    Correct Answer

    Budget deficit refers to excess of revenue expenditure over revenue receipts

    Incorrect Answer

    Primary deficit refers to excess of total expenditure over total receipts minus interest payments.

    Incorrect Answer
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    Explanation:

    Statement (a) refers to budget deficit and statement (c) refers to revenue deficit.
    Primary deficit refers to excess of total expenditure over total receipts minus borrowings minus interest payments.

     

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