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Q37 (UPPCS/2023) Economy › Government Finance & Budget

Which statement is true for Finance Sector (Fiscal Management) in the Union Budget-2023?

Result
Your answer: —  Â·  Correct: C

Explanation

According to the Union Budget 2023-24 documents and the Finance Minister's speech:

  • Option C is correct: States were allowed a fiscal deficit of 3.5% of GSDP, with 0.5% of this specifically tied to power sector reforms.
  • Option A is incorrect: The total expenditure for 2023-24 was estimated at ₹45.03 lakh crore, not ₹55 lakh crore.
  • Option B is incorrect: The fiscal consolidation roadmap aims to bring the fiscal deficit below 4.5% of GDP by 2025-26, not 5.5%.
  • Option D is incorrect: The budget continued the scheme of providing 50-year interest-free loans to state governments under the 'Scheme for Special Assistance to States for Capital Investment', not 20 years.
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