Consider the following statements: 1. Tax revenue as a percent of GDP of India has steadily increased in the last decade. 2. Fiscal deficit as a percent of GDP of India has steadily increased in the last decade. Which of the statements given above is/are correct?

Statement 1: Tax revenue as % of GDP has not steadily increased over the last decade; it has shown fluctuations due to changes in growth, tax reforms, and shocks like GST transition and COVID-19. Verdict: Incorrect.

Statement 2: Fiscal deficit as % of GDP has also not steadily increased over the last decade; it declined in some years and rose sharply in others, especially during the pandemic. Verdict: Incorrect.

Therefore, neither 1 nor 2 is correct.