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Q:

Which of the following may be called a fiscal deficit?

  • 1
    Revenue expenditure − Revenue receipts
  • 2
    Capital expenditure – Capital receipts
  • 3
    Total expenditure – Total receipts other than borrowings
  • 4
    Revenue expenditure + Capital expenditure − Revenue receipts
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Answer : 3. "Total expenditure – Total receipts other than borrowings"
Explanation :

Fiscal Deficit is the difference between the total income of the government (total taxes and non-debt capital receipts) and its total expenditure. It occurs when the government's expenditure exceeds its income.

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Basic GK Economics GK

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