The 'Revenue deficit' indicates that the government's: MCQ with Answer and Explanation

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The 'Revenue deficit' indicates that the government's:

A. total budget is balanced

B. revenue receipts exceed revenue expenditure

C. revenue expenditure exceeds revenue receipts

D. capital expenditure exceeds capital receipts

Answer: Option C

Solution (By JKSSB Mock Tests)

Revenue deficit is the excess of revenue expenditure over revenue receipts.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'government route' for FDI requires:

A. prior approval from the government

B. no approval

C. only RBI approval

D. only SEBI approval

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Correct Answer: Option A

Explanation:
Government route requires prior approval from the concerned government ministry.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Special Drawing Rights' allocated by IMF are recorded in which part of a country's balance of payments?

A. Capital account or reserve assets

B. Visible trade

C. Current account

D. Invisibles

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Correct Answer: Option A

Explanation:
SDR allocations are recorded as reserve assets in the balance of payments.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'GST' compensation cess was collected to compensate states for how many years from 2017?

A. 5 years

B. 10 years

C. 2 years

D. 15 years

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Correct Answer: Option A

Explanation:
Compensation cess was initially for five years (2017-2022), later extended.

This question belongs to: Economy GK Economy Set 1

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