Question : If the government revenue expenditure exceeds revenue receipt, it is called:
Option 1: revenue deficit
Option 2: primary deficit
Option 3: capital deficit
Option 4: fiscal deficit
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Correct Answer: revenue deficit
Solution : The correct option is a revenue deficit .
The term "deficit budget" refers to a situation in which the government spends more money than it brings in for government initiatives. The excess of expenses over receipts on a revenue account is called a revenue deficit.
Revenue deficit = revenue expense – revenue receipts.
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