Daily Editorial Cloze Test Quiz – 91

Editorial Cloze Test Quiz

 

Eight months into the financial year, or until end November, the Union government’s fiscal deficit — the amount by which its expenditure exceeds revenue — had already overshot the year’s budget _______(1)________by a significant ₹65,573 crore. And as in everything with numbers, there are several interesting insights to be had, some fairly straightforward and self-explanatory and others less obvious and disconcerting. One of the biggest contributors to the wider fiscal slippage has clearly been the faster pace at ______(2)_______total expenditure has grown. While the government had in the Union Budget provided for overall spending to increase by a modest 6.6% _______(3)________the revised estimates for the previous fiscal, data for April-November released by the Controller General of Accounts show a 14.9% jump year-on-year. A look at the individual ministries and how they have front-loaded their spending shows wide variability with several ministries still significantly underutilising their budget allocations over the first eight months. Similarly, revenue receipts for the eight-month period _______(4)________an underwhelming 1.1% year-on-year increase while the budget projection was for 6.5% growth. Even if some of the sluggishness in revenue receipts can be explained by the fact that the current year has been a one-off, transitional period given that the GST regime was ________(5)__________from July 1, there are other pressure points that policymakers need to square up with. Non-tax revenue at 36.5% of budget estimates compares unfavourably with the 54.2% garnered in the corresponding period of the previous year.

1.
a) Attack
b) Target
c) Focus
d) Level

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Answer b) Target.

2.
a) Where
b) When
c) What
d) Which

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Answer d) Which.

3.
a) By
b) On
c) Over
d) At

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Answer c) Over.

4.
a) Have shown
b) Show
c) Had shown
d) Will show

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Answer a) Have shown.

5.
a) Imposed
b) Performed
c) Implemented
d) Enforced

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Answer c) Implemented.

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