UPSC 1999 › Indian Economy › Fiscal Policy & Budget

1 question · 1999 · answers as per the UPSC key

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Assertion (A): Fiscal deficit is greater than budgetary deficit.

Reason (R): Fiscal deficit is the borrowings from the Reserve Bank of India plus other liabilities of the Government to meet its expenditure.

(a) Both A and R are true, and R is the correct explanation of A
(b) Both A and R are true, but R is not a correct explanation of A
(c) A is true, but R is false
(d) A is false, but R is true
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Answer: (a) Both A and R are true, and R is the correct explanation of A