The excess of total expenditure of Government over its total receipts, excluding borrowings, is known as

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Q: (CDS-I/2021)
The excess of total expenditure of Government over its total receipts, excluding borrowings, is known as

question_subject: 

Economics

question_exam: 

CDS-I

stats: 

0,147,80,58,147,17,5

keywords: 

{'fiscal deficit': [0, 2, 2, 4], 'primary deficit': [0, 0, 1, 5], 'capital deficit': [0, 0, 0, 1], 'total expenditure': [0, 0, 0, 6], 'current deficit': [0, 0, 0, 1], 'total receipts': [0, 0, 0, 2], 'excess': [3, 0, 0, 2], 'borrowings': [0, 2, 0, 3], 'government': [5, 0, 0, 1]}

The correct answer is option-2. Fiscal deficit refers to the excess of total expenditure of the government over its total receipts, excluding borrowings. It represents the shortfall of government revenue compared to its spending, without considering borrowing activities.

Option-1, primary deficit, refers to the excess of total expenditure over total receipts, including borrowings. It takes into account the borrowing activities of the government.

Option-3, current deficit, typically refers to the deficit in the current account of a country`s balance of payments. It represents the difference between a country`s exports and imports of goods and services.

Option-4, capital deficit, is not a commonly used term in economics. It does not accurately describe the situation described in the question.

In conclusion, the correct answer is option-2, fiscal deficit, which represents the excess of total expenditure over total receipts, excluding borrowings.