Match List I with List II and select the correct answer using the codes given below the Lists: Codes: List I (Term) — List II (Explanation); I. Fiscal deficit — (A) Excess of Total Expenditure over Total Receipts; II. Budget deficit — (B) Excess of Revenue Expenditure over Revenue Receipts; III. Revenue deficit — (C) Excess of Total Expenditure over Total Receipts less borrowings; IV. Primary deficit — (D) Excess of Total Expenditure over Total Receipts less borrowings and Interest Payments
Options
(a)I-C, II-A, III-B, IV-D
(b)I-D, II-C, III-B, IV-A
(c)I-A, II-C, III-B, IV-D
(d)I-C, II-A, III-D, IV-B
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Class 12Government Budget and the Economy— NCERT Economics, Chapter 5. The government budget — the Annual Financial Statement required by Article 112 — lists estimated receipts and expenditure for the financial year (1 April–31 March). It…
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