BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Economic Affairs Secretary SC Garg has announced a reduction in gross borrowing estimate for the current fiscal by____rupees.
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7, 000 crore
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50, 000 crore
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10, 000 crore
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70, 000 crore
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Explanation:
Detailed explanation-1: -Budget 2023: India Targets FY24 Fiscal Deficit At 5.9%; Gross Borrowings At Rs 15.43 Lakh Crore.
Detailed explanation-2: -A fiscal deficit is a difference between a government’s total revenue and expenses in a given fiscal year. It indicates the extent to which a government relies on borrowing to finance its spending. A fiscal deficit can be funded by issuing government bonds, increasing taxes, or running down foreign exchange reserves.
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