Primary deficit is equal to fiscal deficit minus: MCQ with Answer and Explanation

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Primary deficit is equal to fiscal deficit minus:

A. capital expenditure

B. interest payments

C. subsidies

D. tax revenue

Answer: Option B

Solution (By JKSSB Mock Tests)

Primary deficit = fiscal deficit - interest payments.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is a non-tax revenue receipt of the government?

A. Customs duty

B. Income tax

C. Corporation tax

D. Dividends and profits from public sector enterprises

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Correct Answer: Option D

Explanation:
Dividends and profits from PSUs form part of non-tax revenue. Corporation tax, customs duty and income tax are tax revenues.

This question belongs to: Economy GK Economy Set 1

Question #2

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External commercial borrowing refers to:

A. borrowing by Indian firms from foreign lenders

B. foreign direct investment

C. borrowing from domestic banks

D. borrowing by the government from the RBI

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Correct Answer: Option A

Explanation:
External commercial borrowing is commercial loans raised by Indian firms from foreign lenders.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Golden Revolution' in India is associated with:

A. milk production

B. gold production

C. horticulture and honey production

D. wheat production

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Correct Answer: Option C

Explanation:
The Golden Revolution is associated with horticulture and honey production.

This question belongs to: Economy GK Economy Set 1

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