Question

What is deficit? Mention the types of deficits.​

Answer 1

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Answer 2

There can be different types of deficit in a budget depending upon the types of receipts and expenditure we take into consideration. Accordingly, there are three concepts of deficit, namely

(i) Revenue deficit

(ii) Fiscal deficit and

(iii) Primary deficit.

Although budget deficit and revenue deficit are old ones but fiscal deficit and primary deficit are of recent origin.

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