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

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

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Indian Economy
Deficit financing leads to inflation in general, but it can be checked if

only aggregate demand is increased
government expenditure leads to increase in the aggregate supply in ratio of aggregate demand
all the expenditure is denoted national debt payment only
All of the listed here

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Indian Economy
The budget deficit means

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

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