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SSC CHSL 2023 PYQ — Question 30

SSC CHSL - 10 Aug 2023 - Shift 3 • General Awareness • Q30

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Identify the INCORRECT equation.

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Correct answer: A

Explanation

The correct answer is option 1 i.e. Revenue receipts = Tax revenue (net of State's share) less non-tax revenue.

​The incorrect equation is: "Revenue receipts = Tax revenue (net of State's share) less non-tax revenue." This is inaccurate because revenue receipts comprise both tax revenue and non-tax revenue. Therefore, the correct formulation is:​

Revenue receipts = Tax revenue (net of State's share) + Non-tax revenue.​

The other equations provided are correct:​

  1. Gross fiscal deficit = Total expenditure – (Revenue receipts + Non-debt creating capital receipts).

  2. Gross primary deficit = Gross fiscal deficit – Net interest liabilities.

  3. Revenue deficit = Revenue expenditure – Revenue receipts.