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Question
Which one of the following statements is CORRECT with reference to government budget?
Options
Interest paid on government’s borrowing reduces liability of the government.
Financial aid received from the World Bank for cyclone affected areas is revenue receipt.
Grants given by the central government to the state government is capital expenditure.
Profits of BHEL, a PSU, increase the assets of the government.
Solution
Financial aid received from the World Bank for cyclone affected areas is revenue receipt.
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