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Identify the following statements and reason– Statement (A): Fiscal deficit is higher than budget deficit. Reason (R): Fiscal deficit means that government is meeting its expenses by borrowing from Reserve Bank of India and other lenders of the government. Code:

Identify the following statements and reason– Statement (A): Fiscal deficit is higher than budget deficit. Reason (R): Fiscal deficit means that government is meeting its expenses by borrowing from Reserve Bank of India and other lenders of the government. Code: Correct Answer Both statement A and Reason R are correct and R is the correct explanation of A.

Fiscal deficit = Revenue receipts - Non debt

capital receipts - Total expenditure

Budget data = Total receipts - Total expenditure

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