Discussion
The concept of 'Effective Revenue Deficit' has been used for the first time in the Union Budget for
Answer: C
The concept of 'effective revenue deficit' was used for the first time in the Union Budget for 2011-12. It is the revenue deficit minus the grants given by the Centre for the creation of capital assets, since those grants are revenue expenditure in form but lead to assets.
The Budgets of 2008-09, 2009-10 and 2010-11 did not carry the term, so options A, B and D are wrong; the idea followed the recommendations of the Thirteenth Finance Commission.
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