Official Answer Key & Detailed Solution
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Correct Answer: Option (D) — A-3; B-1; C-4; D-2
Concept & Option Breakdown
Standard Reference VerifiedMatching the fiscal terms with their definitions:
- Fiscal Deficit (A): Excess of total expenditure over total receipts excluding borrowings (List-II, item 3).
- Budget Deficit (B): Excess of total expenditure over total receipts including borrowings (List-II, item 1).
- Revenue Deficit (C): Excess of revenue expenditure over revenue receipts (List-II, item 4/2 in standard accounting; mapped to definition 4).
- Primary Deficit (D): Fiscal deficit less interest payments (List-II, item 2).
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