BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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4.1% of GDP
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5.7% of GDP
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4.8% of GDP
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4.5% of GDP
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Detailed explanation-1: -The gross fiscal deficit in 2014-15 as per cent to G.D.P. of India is 4.1%.
Detailed explanation-2: -The correct answer is 6.9 per cent. The fiscal deficit in the current financial year is estimated to rise to 6.9 per cent of GDP against 6.8 per cent in Budget Estimates.
Detailed explanation-3: -4.5 is the new 3 Sitharaman rapidly brought down the deficit to 6.9 percent in 2021-22 – 10 basis points more than the target. She also said the Centre would bring it down below 4.5 percent by 2025-26, with states expected to reach a fiscal deficit of 3 percent by 2023-24.
Detailed explanation-4: -To calculate the Fiscal Deficit, all taxes, non-debt capital receipts, and other ways of revenue except borrowing are included in calculating the total income of the government. Fiscal Deficit = (Revenue Expenditure + Capital Expenditure) – (Revenue Receipts + Capital Receipts).