Q. Which of the following statements are correct in respect of Union Budget 2024-25?
(1) Total expenditure projected at Rs. 48.21 Lakh Crore
(2) Receipts excluding Borrowings Rs. 32.07 Lakh Crore
(3) Fiscal Deficit projected at 6.8 % of GDP
(4) Net Tax Receipts Rs. 34.83 Lakh Crore
a) 1 and 2
b) 2 and 3
c) 1 and 4
d) 3 and 4
Question from Odisha OCS Paper 1 2024
The correct answer is: d) 1 and 2.
Explanation:
The Union Budget 2024-25 includes several key figures that can be evaluated for correctness based on the provided statements. Here’s a breakdown:
1. Total Expenditure: The budget estimates total expenditure at ₹48.21 lakh crore. This aligns with the statement that total expenditure is projected at ₹48.21 lakh crore, making this statement correct.
2. Receipts Excluding Borrowings: The receipts (excluding borrowings) are estimated at ₹32.07 lakh crore, which matches the second statement, confirming it as correct.
3. Fiscal Deficit: The fiscal deficit is projected at 4.9% of GDP, not 6.8% as stated in the third item. Therefore, this statement is incorrect.
4. Net Tax Receipts: The net tax receipts are reported as ₹34.83 lakh crore, which does not match any of the provided figures for receipts or tax revenues, thus making this statement incorrect.
– Statements 1 and 2 are correct.
– Statements 3 and 4 are incorrect.
The correct answer to the question is a) 1 and 2.
