Question : Which of the following is the best estimate of the total borrowings by the government?
Option 1: Primary Deficit
Option 2: Revenue Receipts
Option 3: Money Supply
Option 4: Fiscal Deficit
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Correct Answer: Fiscal Deficit
Solution : The correct answer is Fiscal Deficit.
A fiscal deficit is a key indicator of a government's borrowing. It represents the difference between the government's total expenditure and revenue (excluding borrowings).
In other words, it's the shortfall between what the government earns (from sources like taxes and non-debt capital receipts) and what it spends. To cover this deficit, the government often resorts to borrowing, both internal and external.
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