The fiscal deficit of the government is equal to:
A. total expenditure minus revenue receipts
B. revenue expenditure minus revenue receipts
C. total expenditure minus total receipts excluding borrowings
D. fiscal deficit minus interest payments
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Answer: C. total expenditure minus total receipts excluding borrowings
Answer: (C) total expenditure minus total receipts excluding borrowings
Fiscal deficit = total expenditure − (revenue receipts + non-debt capital receipts), i.e. the government's total borrowing need. Revenue expenditure minus revenue receipts is the revenue deficit; fiscal deficit minus interest payments is the primary deficit.
Doubtly AI
· 27 Oct 2026
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