✓ Board-verified↻ asked 3×
Economics · 2024 · 6 marks
CBSE 2024 · Region 3 · Set 1 · Q17
(a)On the basis of the given information, calculate the values of the following :(i)Fiscal Deficit(ii)Primary DeficitS.No. Items Amount (in ₹ crore) (i) Capital Expenditure $\displaystyle 30$ (ii) Revenue Receipts $\displaystyle 20$ (iii) Revenue Deficit $\displaystyle 20$ (iv) Interest Payments $\displaystyle 10$ (v) Non-Debt Creating Capital Receipts $\displaystyle 50$% of Revenue Receipts
(b)State any two examples of private goods.(c)Distinguish between ‘Public Provision’ and ‘Public Production’.
(a)
On the basis of the given information, calculate the values of the following :
(i)
Fiscal Deficit
(ii)
Primary Deficit
| S.No. | Items | Amount (in ₹ crore) |
| (i) | Capital Expenditure | $\displaystyle 30$ |
| (ii) | Revenue Receipts | $\displaystyle 20$ |
| (iii) | Revenue Deficit | $\displaystyle 20$ |
| (iv) | Interest Payments | $\displaystyle 10$ |
| (v) | Non-Debt Creating Capital Receipts | $\displaystyle 50$% of Revenue Receipts |
(b)
State any two examples of private goods.
(c)
Distinguish between ‘Public Provision’ and ‘Public Production’.
Marking-scheme solution
(a)
Non-Debt Creating Capital Receipts = $\displaystyle 50$% of Revenue Receipts
= $\displaystyle \frac{50}{100}$ x $\displaystyle 20$ = ₹ $\displaystyle 10$ crore
Fiscal Deficit = (iii) + (i) - Non-Debt Creating Capital Receipts
= $\displaystyle 20$ + $\displaystyle 30$ - $\displaystyle 10$
= ₹ $\displaystyle 40$ crore
Primary Deficit = Fiscal Deficit – (iv)
= $\displaystyle 40$ – $\displaystyle 10$ = ₹ $\displaystyle 30$ crore
(b)
Examples of private goods are:
Mobile phone purchased by an individual
Water bottle purchased by an individual
(c)
Public provision refers to those goods that are financed through the government budget and can be used without any direct payment by public.
Whereas;
Public production relates to those goods which are directly produced by the government.
More from Government Budget and the Economy
- Read the following statements: Assertion and Reason (R). Choose the correct option from those given below:…2026 · asked 3×
- “As per the Economic Survey of India 2022 – 23, due to the outbreak of geopolitical conflict, the result was…2025 · asked 3×
- Read the following statements carefully: Statement 1: Public goods are those goods for which the payments are…2025 · asked 3×
- “Consumption of a good by a person does not reduce the amount available for consumption by others. Consumers…2026 · asked 3×
- Read the following statements carefully: Statement 1: Foreign aids are the capital receipts for the…2025 · asked 3×
- Identify, which of the following does not represent a public good. (Choose the correct option)2025 · asked 3×
- Read the following text carefully: Government provides certain goods and services which cannot be provided by…2025 · asked 3×
- According to the data presented in the Union Budget 2023 – 24, the total receipts of the government (other…2025 · asked 3×
CBSE Class 12 Economics past-paper question from the 2024board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.