Question

requirements.
06.
Fiscal deficit in a government budget refers to
(Fill up the blank with correct answer)
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Answer 1

Answer:

A fiscal deficit is a shortfall in a government's income compared with its spending. The government that has a fiscal deficit is spending beyond its means.

A fiscal deficit is calculated as a percentage of gross domestic product (GDP), or simply as total dollars spent in excess of income. In either case, the income figure includes only taxes and other revenues and excludes money borrowed to make up the shortfall.

A fiscal deficit is different from fiscal debt. The latter is the total debt accumulated over years of deficit spending.

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