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    Question

    The gross fiscal deficit is  

    A Total expenditure less total revenue receipts. Correct Answer Incorrect Answer
    B Total borrowings less repayment of past debt. Correct Answer Incorrect Answer
    C Revenue expenditures less total revenue receipts. Correct Answer Incorrect Answer
    D Total expenditure less payment of interest. Correct Answer Incorrect Answer

    Solution

    Solution Gross fiscal deficit is the excess of total expenditure over total revenue receipts of a country. Symbolically, Gross fiscal deficit = Total expenditure –Total Revenue receipts.

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