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Assertion (A): Fiscal deficit is greater than budgetary deficit. Reason (R): Fiscal deficit is the borrowings from the Reserve Bank of India plus other liabilities of the Government to meet its expenditure.

Assertion (A): Fiscal deficit is greater than budgetary deficit. Reason (R): Fiscal deficit is the borrowings from the Reserve Bank of India plus other liabilities of the Government to meet its expenditure.

(a)

Both A and R are true, and R is the correct explanation of A

(b)

Both A and R are true, but R is not a correct explanation of A

(c)

A is true, but R is false

(d)

A is false, but R is true

Answer:

(a)

Explanation