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State PCS PYQPrelims 2023

UPPCS · Question 37

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

  1. Budget estimates 2023-24 for total expenditure is Rs 55 lakh crore.
  2. Fiscal deficit 2025-26 target is to be below 5.5%.
  3. Fiscal deficit of 3.5% of GSDP allowed for states.
  4. Twenty years interest-free loans to states.
Show answer & explanation

Answer: (C) Fiscal deficit of 3.5% of GSDP allowed for states.

Explanation

States were allowed a fiscal deficit of 3.5% of GSDP; total expenditure was Rs 45 lakh crore, the 2025-26 target below 4.5%, and interest-free loans were for 50 years.