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    Question

    Consider the following statements and choose the option

    with correct Statements. I- The Union government's non-debt receipts comprise revenue receipts (tax and non-tax) and non-debt capital receipts. II- Union Government’s revenue receipts are always less than capital receipts. III- The shortfall in the non-debt receipts to meet the expenditure requirement is met by borrowings of the government (called fiscal deficit).
    A I & II Correct Answer Incorrect Answer
    B II & III Correct Answer Incorrect Answer
    C I & III Correct Answer Incorrect Answer
    D Only III Correct Answer Incorrect Answer
    E I, II, & III Correct Answer Incorrect Answer

    Solution

    Explanation: The Union government's non-debt receipts comprise revenue receipts (tax and non-tax) and non-debt capital receipts. The shortfall in the non-debt receipts to meet the expenditure requirement is met by borrowings of the government (called fiscal deficit). This section evaluates the performance of the Receipts side of the Union Government's finances.

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