Economics · Public Finance
Which of the following statements best defines 'Fiscal Deficit'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The difference between tax revenue and non-tax revenue collections
- 2The excess of total expenditure over total receipts excluding borrowings✓
- 3The difference between total capital receipts and total capital expenditure
- 4The difference between total revenue receipts and total revenue expenditure
Correct answer
The excess of total expenditure over total receipts excluding borrowings
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