Q.

Fiscal deficit in the Union Budget means: [IAS 1994]

A. the difference between current expenditure and current revenue
B. net increase in Union Government's borrowings from the Reserve Bank of India
C. the sum of budgetary deficit and net increase in internal and external borrowings
D. the sum of monetised deficit and budgetary deficit
Answer» C. the sum of budgetary deficit and net increase in internal and external borrowings
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