A country's fiscal deficit stands at ₹50,000 crores. It is receiving ₹10,000 crores through non-debt creating capital receipts. The country's interest liabilities are ₹1,500 crores. What is the gross primary deficit?

Primary deficit = Fiscal deficit − Interest payments. Given fiscal deficit = ₹50,000 crores and interest liabilities = ₹1,500 crores, primary deficit = 50,000 − 1,500 = ₹48,500 crores. The non-debt creating capital receipts of ₹10,000 crores are already factored into the fiscal deficit calculation (fiscal deficit = total expenditure − total receipts excluding borrowings), so they do not need to be subtracted again.