BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Fiscal deficits occur when a government’s total expenditures exceed the revenue that it generates, excluding money from borrowing.

Detailed explanation-2: -Definition: The difference between total revenue and total expenditure of the government is termed as fiscal deficit. It is an indication of the total borrowings needed by the government.

Detailed explanation-3: -Primary deficit is referred to as the difference that exists between the fiscal deficit of the current year and the interest payment that was needed to be paid in the previous fiscal year. It is one of the three important measures of determining the government deficit.

Detailed explanation-4: -Fiscal Deficit occurs when the government spends more than it earns or beyond its resources. Revenue Deficit occurs in an economy when the realised income is less than the projected/expected income.