Question : The concept of "fiscal deficit" in the government budget represents:

Option 1: The excess of total revenue over total expenditure

Option 2: The excess of total expenditure over total revenue

Option 3: The excess of revenue receipts over revenue expenditure

Option 4: The excess of capital receipts over capital expenditure

Question : Which of the following is correct.
 

Option 1: Primary deficit= fiscal deficit + interest payments
 

Option 2: Revenue deficit= total expenditure - total receipts
 

Option 3: Fiscal deficit= revenue expenditure - revenue receipts
 

Option 4: Primary deficit= fiscal deficit - interest payments.
Hence, Option D is correct.

Question : It refers to excess of total expenditure over total receipt excluding borrowrings during the given fiscal year.

Option 1: Revenue deficit 

Option 2: Fiscal deficit

Option 3: Primary deficit 

Option 4: Budgetary deficit.

Question : It refers to excess of revenue expenditure over revenue receipt during the given fiscal year.
 

Option 1: Revenue deficit 
 

Option 2: Fiscal deficit
 

Option 3: Primary deficit 
 

Option 4: Budgetary deficit.

Question : Identify the incorrect equation.

Option 1: Revenue receipts = Tax revenue (net of State's share) less non-tax revenue

Option 2: Gross fiscal deficit = Total expenditure - (Revenue receipts + Non-debt creating capital receipts)

Option 3: Gross primary deficit = Gross fiscal deficit - Net interest liabilities

Option 4: Revenue deficit = Revenue expenditure - revenue receipts