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. interest payments

B. capital expenditure

C. tax revenue

D. subsidies

Answer: Option A

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

The 'Goods and Services Tax' on architectural services is:

A. 18%

B. 5%

C. 12%

D. 28%

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Correct Answer: Option A

Explanation:
Architectural services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Pradhan Mantri Suraksha Bima Yojana' provides insurance against:

A. health expenses

B. accidental death and disability

C. crop loss

D. unemployment

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Correct Answer: Option B

Explanation:
PMSBY provides accidental death and disability insurance.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Public Account of India' is constituted under which article?

A. Article 263

B. Article 312

C. Article 266

D. Article 280

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Correct Answer: Option C

Explanation:
The Public Account of India is constituted under Article 266.

This question belongs to: Economy GK Economy Set 1

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