In India deficit financing is used for raising resources for ........

Economic Affairs Public Finance and Debt Management

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In India, deficit financing is used for raising resources for

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UPSC CSP Previous Year Paper (2013)

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economic development

redemption of public debt

adjusting the balance of payments

reducing the foreign debt

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Explanation:

When State fails to generate tax revenue which is sufficient enough to take care of the expenditure of the state it fill the gap by deficit financing. The basic intention behind deficit financing is to provide the necessary impetus to economic growth and make funds available for economic development projects.

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