Question

Regarding Budget 2021 choose the correct statement i) India’s fiscal deficit is set to jump to 9.5 per cent of Gross Domestic Product in 2020-21 ii) No tax reforms have been brought this year

• A. Only i
• B. Only ii
• C. Both i and ii
• D. None of the above

Answer 1

Answer:

A. Only i

Nirmala Sitharaman announced the scrapping of income tax for senior citizens under certain conditions. As per the FM, India’s fiscal deficit is set to jump to 9.5 per cent of Gross Domestic Product in 2020-21 as per Revised Estimates.