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SSC CGL 2022 PYQ — Question 50

SSC CGL - 11 April 2022 - Shift 3 • General Awareness • Q50

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As per the Union Budget 2021-22, the government plans to continue on the path of fiscal consolidation, achieving a fiscal deficit level below 4.5% of GDP by ______.

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Correct answer: D

Explanation

The correct answer is option 4 i.e. 2025-26.

As per the Union Budget 2021-22, the government plans to continue on the path of fiscal consolidation, achieving a fiscal deficit level below 4.5% of GDP by 2025-26

  • The fiscal deficit is the difference between the government’s total expenditure and its total receipts (excluding borrowing). A fiscal deficit occurs when this expenditure exceeds the revenue generated.
  • Fiscal Deficit = Total Expenditure (Revenue Expenditure + Capital Expenditure) – (Revenue Receipts + Recoveries of Loans + Other Capital Receipts (all Revenue and Capital Receipts except loans taken).
  • Fiscal deficit estimated at 6.4% of GDP in 2022-23.