Budget Deficit – Meaning, types, formula, questions class 12

Looking, what is the budget deficit. its meaning, types, formulas, and important questions as per the syllabus of Government budget and the economy chapter of class 12 CBSE and other Boards.

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Other names of Budget Deficit

1. Budgetary Deficit
2. Government Deficit

What is the meaning of Budget Deficit

When government total expenditure exceeds the total receipts. The government budget is said to be in deficit.

Definition of Budget (Budgetary) Deficit

Budgetary deficit is defined as the excess of total estimated expenditure over total estimated revenue

Sandeep Garg

Deficit in budget mean that the estimated expenditure is higher than the estimated receipts.

S.K Aagarwal

Budget deficit (also called government deficit) refers to a situation when budget expenditures of the government are greater than the budget receipts

T.R Jain

When a government spends more than it collects by way of revenue, it incurs a budget deficit.

NCERT

Types of Budget Deficit.

As per the Indian government budget. There are three types of Budget Deficit.

1. Revenue Deficit

Revenue Deficit refers to the excess of government revenue expenditures over revenue receipts during a fiscal year.

Read More:- What is revenue deficit, definition, types, formulas class 12

2. Fiscal Deficit

Fiscal deficit refers to the excess of total expenditure over total receipts excluding borrowings.

Read More:- What is Fiscal Deficit, definition, types, formulas class 12

3. Primary Deficit

Primary Deficit refers to the difference between Fiscal deficit and net interest payment of accumulated borrowings.

Read Here:- What is Primary Deficit, definition, types, formulas class 12

Topic	Chapters (Unit)
Syllabus	Syllabus of Government Budget and the Economy chapter Economics class 12

S.N	Government Budget and the Economy
1.	What is Government Budget class 12 | Definition of Government Budget
	What are the components of the government Budget?
2.	What are Revenue Receipts in Government Budget class 12 | Definition of Revenue Receipts in Government Budget
	What the Types of Revenue Receipts in government | What are examples of Revenue Receipts in Government Budget
3.	What are Capital Receipts in Government Budget | Definition of Capital Receipts in Government Budget
	What are the Types of Capital Receipts in Government Budget | What are the examples of Capital Receipts in Government Budget?
4.	What is Revenue Expenditure in Government Budget class 12 | Definition of Revenue Expenditure in Government Budget?
	What are the Types of Revenue Expenditure in Government Budget
	What are the examples of Revenue Expenditure in Government Budget?
5.	What is Capital Expenditure in Government Budget | Definition of Capital Expenditure in Government Budget
	What are the Types of Capital Expenditure in Government Budget | What are the examples of Capital Expenditure in Government Budget?
6.	What is Budgetary Deficit in Government Budget | Definition of Budgetary Deficit in government Budget
	What are the Types of Budgetary Deficit in Government Budget | What are the examples of Budgetary Deficit in Government Budget?
7.	What is Revenue Deficit in Government Budget | Definition of Revenue Deficit in Government Budget
	The formula of Revenue Deficit in Government Budget
	Numerical of Revenue Deficit in Government Budget
8.	What is Fiscal Deficit in Government Budget | Definition of Fiscal Deficit in Government Budget,
	The formula of Fiscal Deficit in Government Budget
	Numerical of Revenue Deficit in Government Budget
9.	What is Primary Deficit in Government Budget | Definition of Primary Deficit in Government Budget
	The Formula of Primary Deficit in Government Budget
	Numerical of Primary Deficit in Government Budget

MCQs of Government Budget for class 12, CUET, CBSE, ISC and state Board

1.	MCQS of Government Budget class 12, CUET, CBSE, ISC
2.	Assertion Reason MCQs of Government Budget class 12, CUET, CBSE, ISC
3.	Matching Type MCQs of Government Budget class 12, CUET, CBSE, ISC
4.	Case/situation Based MCQs of Government Budget class 12, CUET, CBSE, ISC