Fiscal deficit is :

Explanation

To obtain the gross primary deficit, net interest payments are deducted from the gross fiscal deficit. Hence: Gross Primary Deficit = Gross Fiscal Deficit – Net Interest Payments Budgetary Deficit = Total Expenditure – Total Receipts Revenue Deficit = Revenue Expenditure – Revenue Receipts Gross Fiscal Deficit = Budgetary Deficit (Total Expenditure – Total Receipts) + Government’s borrowings and other liabilities. Or, Gross Fiscal Deficit = Net domestic borrowings + borrowings from the Reserve Bank of India + borrowings from abroad. Therefore, gross fiscal deficit is the sum of the budgetary deficit and the government’s market borrowings and liabilities.