Discussion
______ as a percentage of GDP has the largest share in the revenue expenditure of Union government in 2021-22.
Answer: B
In the revenue expenditure of the Union government in 2021-22, interest payments formed the largest single share of GDP among the items listed, about 3.4 to 3.6 per cent of GDP, ahead of subsidies, defence and pensions. Interest payments are the cost of the debt the government has built up, and they are the biggest item of the revenue expenditure. The explanation follows the key, option B, and the exact percentages were not checked. The share of interest payments is large because the stock of public debt built up over years has to be serviced every year.
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