Indian Economy
When personal direct taxes are subtracted from personal income the obtained value is called:

Gross Domestic Product (GDP)
Personal Income
National Income
Gross National Product (GNP)

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Indian Economy
The budget deficit means

difference between all receipts and all the expenditure
fiscal deficit less interest payments
the excess of total expenditure, including loans, net of lending over revenue receipts
difference between revenue receipts and revenue expenditure

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