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SSC CHSL 2024 PYQ — Question 47

SSC CHSL - 04 July 2024 - Shift 3 • General Awareness • Q47

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In the following passage, some words have been deleted. Read the passage carefully and select the most appropriate option to fill in each blank.

Famines were (1) ___________ during the period of British rule due to many reasons (2) __________ unemployment following import of machine-made goods from Britain, overexploitation of farmers and (3) _________ access to food. India suffered two very severe droughts in 1965 and 1966. India achieved (4) ___________ in food grains by the year 1976 through the implementation of the seedwater-fertiliser-led (5) ___________. The country is no longer exposed to real famines. However, lack of purchasing power continues to haunt people in some parts of the country.

_____ is defined as excess of total expenditure over total receipts excluding borrowings during a fiscal year.

Show answer & explanation

Correct answer: A

Explanation

The correct answer is option 1 i.e. Fiscal deficit.

The term "Fiscal Deficit" is defined as the excess of total expenditure over total receipts, excluding borrowings, during a fiscal year. It reflects the gap between the government's income and expenditure, indicating the need for borrowing to meet the shortfall. A fiscal deficit occurs when revenue receipts and non-debt capital receipts are insufficient to fund total expenditures, including capital and revenue spending. It is a key indicator of a government’s financial health, influencing economic stability and growth.