There has been a persistent deficit budget year after year. Which action/actions of the following can be taken by the Government to reduce the deficit? 1. Reducing revenue expenditure 2. Introducing new welfare schemes 3. Rationalizing subsidies 4. Reducing import duty Select the correct answer using the code given below.
a
1 only
b
2 and 3 only
c
1 and 3 only
d
1, 2, 3 and 4
Public FinanceFiscal Deficit ManagementDeficit budgetRevenue expenditureWelfare schemesSubsidiesImport dutyFiscal policyGovernment actionsBudgetary measures