Question : Identify the incorrect equation.

Option 1: Revenue receipts = Tax revenue (net of State's share) less non-tax revenue

Option 2: Gross fiscal deficit = Total expenditure - (Revenue receipts + Non-debt creating capital receipts)

Option 3: Gross primary deficit = Gross fiscal deficit - Net interest liabilities

Option 4: Revenue deficit = Revenue expenditure - revenue receipts

Question : The revenue deficit is calculated as ____________ minus revenue receipts.

Option 1: Total expenditure 

Option 2: Capital receipts 

Option 3: Capital expenditure

Option 4: Fiscal deficit

Question : The government's borrowings from the public are known as ____________.

Option 1: Revenue receipts  

Option 2: Capital receipts  

Option 3: Revenue expenditure

Option 4: Capital expenditure

Question : In a government budget, revenue receipts = 13200, revenue expenditure = 14700, capital receipts net of borrowings = 4000, capital expenditure = 17300, and interest payments = 2350, fiscal deficit will be:

Option 1: 18800

Option 2: 14800

Option 3: 17150

Option 4: 12450

Question : Which of the following is correct.
 

Option 1: Primary deficit= fiscal deficit + interest payments
 

Option 2: Revenue deficit= total expenditure - total receipts
 

Option 3: Fiscal deficit= revenue expenditure - revenue receipts
 

Option 4: Primary deficit= fiscal deficit - interest payments.
Hence, Option D is correct.