Question

Difference between current account deficit and fiscal deficit

Answer 1

Current Account deficit: A condition, in which a country's total imports values(services and goods) is more than that of it's exports(services and goods).

To be more simple and precise: (Imports+interests+dividends+foreign grants(which India receives))>(Exports+India's foreign grants+India's financial obligations to other countries)

Fiscal deficit: Difference between total revenue and total expenditure of a government.