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With reference to the Fiscal deficit, consider the following statements:
1. Fiscal deficit improved to 6.71% of the FY22 GDP over the revised budget estimate of 6.9% mainly on account of higher tax realisation.
2. Tax receipts during the fiscal were at ₹18.2 lakh crore as against the revised estimates (RE) of ₹17.65 lakh crore.
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?
Most Upvoted Answer
With reference to the Fiscal deficit, consider the following statement...
Fiscal deficit improved to 6.71% of the FY22 GDP over the revised budget estimate of 6.9% mainly on account of higher tax realisation.
  • Unveiling the revenue-expenditure data of the Union government, the Controller General of Accounts (CGA) said that the fiscal deficit in absolute terms was ₹15,86,537 crore (provisional).
  • Tax receipts during the fiscal were at ₹18.2 lakh crore as against the revised estimates (RE) of ₹17.65 lakh crore, the data showed.
  • Total expenditure too was higher at ₹37.94 lakh crore against the RE of ₹37.7 lakh crore presented to Parliament on February 1, 2021. The CGA further said the revenue deficit at the end of the fiscal was 4.37% for fiscal year 2021-22.
  • The fiscal deficit of the Centre was contained marginally below the FY22 revised estimate, benefitting from the higher tax and non-tax revenue receipts and lower capital spending, which absorbed the deficit in non-debt capital receipts and higher revenue expenditure.
Hence both statements are correct.
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With reference to the Fiscal deficit, consider the following statements:1. Fiscal deficit improved to 6.71% of the FY22 GDP over the revised budget estimate of 6.9% mainly on account of higher tax realisation.2. Tax receipts during the fiscal were at 18.2 lakh crore as against the revised estimates (RE) of 17.65 lakh crore.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 Fiscal deficit, consider the following statements:1. Fiscal deficit improved to 6.71% of the FY22 GDP over the revised budget estimate of 6.9% mainly on account of higher tax realisation.2. Tax receipts during the fiscal were at 18.2 lakh crore as against the revised estimates (RE) of 17.65 lakh crore.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 Fiscal deficit, consider the following statements:1. Fiscal deficit improved to 6.71% of the FY22 GDP over the revised budget estimate of 6.9% mainly on account of higher tax realisation.2. Tax receipts during the fiscal were at 18.2 lakh crore as against the revised estimates (RE) of 17.65 lakh crore.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 Fiscal deficit, consider the following statements:1. Fiscal deficit improved to 6.71% of the FY22 GDP over the revised budget estimate of 6.9% mainly on account of higher tax realisation.2. Tax receipts during the fiscal were at 18.2 lakh crore as against the revised estimates (RE) of 17.65 lakh crore.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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