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● Statement 1 is Incorrect: Fiscal deficit indicates the total borrowing of the government from all sources i.e. domestic borrowing plus borrowing from external sources. However, a large part of the government's fiscal deficit is the interest paid on its previous accumulated debt. Fiscal Deficit = Total expenditure - total receipts except borrowing ● Statement 2 is Incorrect: Revenue Deficit is the difference between the government's revenue expenditure and revenue receipts. Revenue Deficit = Revenue Expenditure - Revenue Receipts Revenue Deficit implies that the government's current expenses are more than its current revenues and will have to use up the savings of other sectors of the economy to finance its consumption expenditure. However, even in the case of revenue deficit, a major part goes for the payment of salaries, pensions, interest payments on previously accumulated debt, subsidies which is a committed expenditure. ● Statement 3 is Correct: The government's deficit excluding the interest payment on the previously accumulated debt is called the primary deficit. It was introduced with the goal of measuring the present fiscal imbalances. Primary Deficit = Fiscal Deficit - Net interest liabilities
Consider the following statements in regards to Gandhamardan hills:
1. It has become the 37th Biodiversity Heritage Site of India.
2....
Which company ranked first in the FutureBrand Index 2024?
If '+' means '÷', '−' means '×', '×' means '+', '÷' means '−', what will come in place of the question mark (?) in the following equation?
<...Chairperson and members of the State Human Rights Commission are appointed by the Governor on the recommendations of a committee. Who of the following ...
Which of the following statements is/are incorrect?
The concept of Zero-Base Budgeting was introduced in ...
In the following question, select the wrong number from the given alternatives .
53, 60, 74, 95, 123, 155
The circumference of a circle is 2π cm. Then the area of a square inscribed in the circle is
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Which one of the following statements regarding force is correct?
A car travels 560 km using 40 litres of petrol. How far can it travel using 35 litres of petrol?