| 1. Revenue deficit |
| 2. Fiscal deficit |
| 3. Budget deficit |
| 4. Overall deficit |
A) 1 only
B) 1 and 2
C) 3 only
D) 4 only
Correct Answer: C
Solution :
Budget deficit is the overall deficit i.e., the excess of total expenditure over total revenues. It includes both capital and revenue items in receipts and expenditure. Traditionally, deficit financing in Indian budgets had meant filling this gap
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