_______ is the year which begins on 1st April and ends on 31st March of the following year.

1. Current year.
2. Fiscal year.
3. New year.
4. None of these.

The receipts which neither create any liability nor lead to any reduction in asset are called _________.

Fill in the blank with the correct formula.
Fiscal deficit can be estimated using the formula ________.

In India, the Constitution requires the Central Government to prepare 'Annual Financial Statement', i.e. government budget for the country as a whole. In India, ________ department of government prepares annual budget statement.

1. RBI.
2. income tax.
3. accounts.
4. finance.

________ is equal to fiscal deficit less interest payment.

Value added tax is an example ______ of tax.

A deficit budget in one where the estimate revenue is ______ than the estimated expenditure.

Fiscal deficit is always equal to_________.