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
- Budgetary Deficit
- 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 revenueSandeep 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 receiptsT.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.
2. Fiscal Deficit
Fiscal deficit refers to the excess of total expenditure over total receipts excluding borrowings.
3. Primary Deficit
Primary Deficit refers to the difference between Fiscal deficit and net interest payment of accumulated borrowings.