Match List I with List II and select the correct answer using the codes given below the lists : List I List II (a) Revenue deficit 1. Total expenditure minus revenue receipts (b) Budget deficit 2. Net increase in holding of Treasury Bills by RBI and its contribution to market borrowings of governnment (c) Monetised deficit 3. Total expenditure minus total receipts (d) Fiscal deficit 4. Revenu e ex pen ditu re minus revenue receipts Codes: (a) (b) (c) (d)

Public finance is the study of the role of the government in the economy. It is the branch of economics that assesses the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones.