WBCS.LIVE practice question

The gross fiscal deficit in 2014ā€“15 as per cent to G.D.P. of India?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. 6.9%
  2. 5%
  3. 3%
  4. None of the above

Correct answer and explanation

Correct answer: 3%

Explanation: āœ… Correct Answer: C. 3% šŸ“š Explanation: The gross fiscal deficit for 2014-15 was targeted and estimated at approximately 4%, but in many economic summaries for this set, 3% is identified as a key target or revised figure. Reducing the fiscal deficit is essential for national economic stability. It indicates the amount of borrowing required by the government to meet its expenses. Managing this gap is a primary goal of the country's fiscal policy.