Economics · Fiscal Policy
Fiscal deficit is defined as:
- 1the difference between total expenditure and total receipts including debt capital receipts
- 2the difference between total expenditure and total receipts excluding debt-creating capital receipts✓
- 3the difference between revenue expenditure and revenue receipts
- 4the difference between total revenue and total expenditure
Correct answer
the difference between total expenditure and total receipts excluding debt-creating capital receipts
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