Previous year MCQs

Current Affairs UPPSC 1996 GS-I
Question

In the Union Budget of 1996-97, the target level of fiscal deficit is:

Answer & Solution

Answer: (Detailed Solution Below)

Option A: 5.0 per cent of GDP

Detailed Solution:

The correct answer is “5.0 per cent of GDP”.
The Union Budget of 1996-97 aimed to reduce the fiscal deficit to 5% of GDP from 5.8% in the previous year. This was a significant step towards fiscal consolidation.

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