There has been a persistent deficit budget year after year. Which of the following actions can be taken by the government to reduce the deficit? 1. Reducing revenue expenditure 2. Introducing new welfare schemes 3. Rationalizing subsidies 4. Expanding industries Select the correct answer using the code given below.

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UPSC Question: There has been a persistent deficit budget year after year. ...

There has been a persistent deficit budget year after year. Which of the following actions can be taken by the government to reduce the deficit?

Select the correct answer using the code given below.