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With reference to the Budget 2021-22, consider the following statements:
1. Fiscal deficit in Revised Estimates (RE) 2020-21 is pegged at 9.5% of GDP.
2. The fiscal deficit in Budgetary Estimates (BE) 2021-2022 is estimated to be 6.8% of GDP.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
With reference to the Budget 2021-22, consider the following statement...
Against an original Budgetary Estimates (BE) 2020-2021 for expenditure of Rs. 30.42 lakh crore, the Revised Estimates (RE) 2020-21 are Rs. 34.50 lakh crore.
  • Fiscal deficit in RE 2020-21 is pegged at 9.5% of GDP. It has been funded through Government borrowings, multilateral borrowings, Small Saving Funds and short term borrowings.
  • Another Rs 80,000 crore would be needed for which Government would be approaching the markets in these 2 months.
  • The fiscal deficit in BE 2021-2022 is estimated to be 6.8% of GDP. The gross borrowing from the market for the next year would be around 12 lakh crore.
  • Finance minister will be proposing an amendment to the FRBM Act towards achieving Central Government fiscal deficit along the broad path indicated above.
  • Hence both statements are correct.
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With reference to the Budget 2021-22, consider the following statements:1. Fiscal deficit in Revised Estimates (RE) 2020-21 is pegged at 9.5% of GDP.2. The fiscal deficit in Budgetary Estimates (BE) 2021-2022 is estimated to be 6.8% of GDP.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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With reference to the Budget 2021-22, consider the following statements:1. Fiscal deficit in Revised Estimates (RE) 2020-21 is pegged at 9.5% of GDP.2. The fiscal deficit in Budgetary Estimates (BE) 2021-2022 is estimated to be 6.8% of GDP.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Budget 2021-22, consider the following statements:1. Fiscal deficit in Revised Estimates (RE) 2020-21 is pegged at 9.5% of GDP.2. The fiscal deficit in Budgetary Estimates (BE) 2021-2022 is estimated to be 6.8% of GDP.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Budget 2021-22, consider the following statements:1. Fiscal deficit in Revised Estimates (RE) 2020-21 is pegged at 9.5% of GDP.2. The fiscal deficit in Budgetary Estimates (BE) 2021-2022 is estimated to be 6.8% of GDP.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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