2021 · Q27
The excess of total expenditure of Government over its total receipts, excluding borrowings, is known as
General KnowledgeIndian Economy
- APrimary deficit
- BFiscal deficit
- CCurrent deficit
- DCapital deficit
Explanation
Fiscal deficit is defined as the excess of total government expenditure over total receipts excluding borrowings — borrowings are excluded because they finance the deficit. Primary deficit is the fiscal deficit minus interest payments. 'Current deficit' and 'capital deficit' are not the standard terms for this definition. The question states the textbook definition of fiscal deficit.