With reference to Revenue Deficit consider the following statements:
I. It includes only those transactions that affect current income and expenditure of government.
II. It implies actual loss of revenue.
III. As per the FRBM Act, the government is required to reduce the revenue deficit to 3% of the GDP.
Which of the statements given above is/are correct?
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Indian public finance and the Union Budget has come up 80 times in 6 exams since 2011.
This question is on Deficit concepts in the Union Budget, part of Indian public finance and the Union Budget in Indian Economy.
The different measures of the Government of India's deficit and how to compute them.
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Question from the JNU SSS 2019 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.