Match List I with List II and select the correct answer using the codes given below the lists: A. Fiscal deficit

Question

Match List I with List II and select the correct answer using the codes given below the lists:

List-I (Term)	List-II (Explanation)
A. Fiscal deficit	1. Excess of Total Expenditure over Total Receipts
B. Budget deficit	2. Excess of Revenue Expenditure
C. Revenue deficit	3. Excess of Total Expenditure over Total Receipts less borrowings
D. Primary deficit	4. Excess of Total Expenditure over Total Receipts less borrowings and Interest Payments

Codes:
(a) A-3; B-1; C-2; D-4 (b) A-4; B-3; C-2; D-1
(c) A-1; B-3; C-2; D-4 (d) A-3; B-1; C-4; D-2

Answer 1

(a) Revenue deficit = revenue receipts – Revenue expenditure; Budget deficit = Total receipts – Total expenditure; Fiscal deficit = Revenue receipts + Nondebt creating capital receipts – Total expenditure (F.D. is government borrowings); Primary deficit = Fiscal deficit – Interest payments.