In the context of public finance, 'Revenue Deficit' indicates: MCQ with Answer and Explanation

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In the context of public finance, 'Revenue Deficit' indicates:

A. Fiscal deficit minus interest payments

B. Total borrowing requirement of the government

C. Excess of capital expenditure over capital receipts

D. Excess of revenue expenditure over revenue receipts

Answer: Option D

Solution (By JKSSB Mock Tests)

Revenue deficit = Revenue expenditure − Revenue receipts. It shows the shortfall in revenue receipts to meet revenue expenditure.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on services provided by RBI is:

A. exempt

B. 0%

C. 5%

D. 18%

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Correct Answer: Option A

Explanation:
RBI services are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'forward market' in foreign exchange deals with:

A. immediate delivery of currencies

B. only spot transactions

C. delivery of currencies at a future date at a predetermined rate

D. only government transactions

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Correct Answer: Option C

Explanation:
The forward market deals with contracts for future delivery of currencies at predetermined rates.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of Indian economy, the concept of 'Inclusive Growth' emphasises:

A. Growth only in urban areas

B. Growth only in the industrial sector

C. Growth without any government intervention

D. Growth that benefits all sections of society

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Correct Answer: Option D

Explanation:
Inclusive growth refers to economic growth that creates opportunities for all segments of the population and distributes the benefits of prosperity more equitably.

This question belongs to: Economy GK Economy Set 1

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