The term 'Primary Deficit' is defined as: MCQ with Answer and Explanation

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The term 'Primary Deficit' is defined as:

A. Revenue deficit minus interest payments

B. Fiscal deficit minus interest payments

C. Budget deficit minus interest payments

D. Fiscal deficit plus interest payments

Answer: Option B

Solution (By JKSSB Mock Tests)

Primary deficit = Fiscal deficit − Interest payments. It indicates the borrowing requirement of the government excluding interest payments on previous borrowings.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Goods and Services Tax' on bread is:

A. 0%

B. 18%

C. 5%

D. 12%

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Correct Answer: Option A

Explanation:
Bread is exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on legal services provided to government is:

A. 18%

B. exempt

C. 12%

D. 0%

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Correct Answer: Option B

Explanation:
Legal services provided to government are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is the correct classification of loans under the Pradhan Mantri Mudra Yojana?

A. Shishu, Kishor, Tarun

B. Primary, Secondary, Tertiary

C. Small, Medium, Large

D. Start-up, Growth, Mature

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Correct Answer: Option A

Explanation:
MUDRA loans are classified as Shishu, Kishor and Tarun.

This question belongs to: Economy GK Economy Set 1

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