Question : The term ____________ refers to the excess of total expenditure over total receipts, including borrowings.
Option 1: Budget deficit
Option 2: Fiscal deficit
Option 3: Revenue deficit
Option 4: Primary deficit
Answer (1)
19th Jan, 2024
Correct Answer: Budget deficit
Solution : The correct answer is (A) Budget deficit.
The term "budget deficit" refers to the excess of total expenditure over total receipts, including borrowings. It represents the shortfall in the government's revenue (receipts) compared to its spending. The budget deficit indicates that the government is spending more than it is collecting in revenue, and it is often financed through borrowing or the sale of government bonds.
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