CURRENT AFFAIRS

2016

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
India’s fiscal deficit target for 2015-16 is _________
A
3.90 %
B
4.90 %
C
2.99 %
D
1.20 %
Explanation: 

Detailed explanation-1: -Roadmap to achieve Fiscal deficit of 3% of GDP in three years: Target is 3.9% in 2015-16, 3.5% in 2016-17, 3% in 2017-18.

Detailed explanation-2: -Revenue Receipts as per the budget is Rs. 11, 41, 575 crore while revenue expenditure is Rs. 15, 36, 047 crore leading to a Revenue Deficit of Rs. 3, 94, 472 crore.

Detailed explanation-3: -2.2 States recorded a combined fiscal deficit of 2.4 per cent of GDP in 2017-18, lower by 109 basis points (bps) from 3.5 per cent in 2016-17 (Table II.

Detailed explanation-4: -On Wednesday, the government in its 2023/24 budget set a fiscal deficit target of 5.9% of gross domestic product for the coming financial year, down from the current year’s target of 6.4% of GDP. India’s fiscal year starts on April 1.

Detailed explanation-5: -NEW DELHI: Fiscal deficit would be brought down to below 4.5 per cent by 2025-26, finance minister Nirmala Sitharaman said on Wednesday. She also said that tax receipts for the next fiscal are budgeted at Rs 23.3 lakh crore and states would be allowed 3.5 per cent of GDP as fiscal deficit.

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