Consider the following statements.
A) Since 1950-51, the government of India recognised only two types of deficits viz. Revenue and overall budgetary deficit.
B) Fiscal deficit was introduced in the year 1997-98 based on the recommendation of the Narasimham committee
Which of the above statements is /are not correct?
1
Both A and B
2
A only
3
B only
4
None of the aove