Question

Which of the following is incorrect (a) Sum of budget deficit minus borrowings of loans & other liabilities gives fiscal deficit (b) If total receipts equals total expenditure, it is called Balanced Budget (c) If total receipts are greater than total expenditure, it is called Surplus Budget (d) Budget deficit is the difference between total receipts and total expenditure

Answer 1

it's option d because defict is expenditure minus recript