When revenue expenditure is greater than the revenue receipts of the government, it is called Revenue deficit.It does not include Capital receipt and capital expenditure.
Revenue deficit = Revenue expenditure – Revenue receipts.
Fiscal deficit
When budget expenditure is greater than the Budget receipts other than borrowings.
Fiscal deficit = Budget expenditure – Budget receipts other than borrowings.
Primary deficit
It is the difference between Fiscal deficit and Interest payment of the government.
Balanced Budget
A balanced budget is such a budget in which the government receipts are equal to government expenditures.
Balanced budget = Government receipt = government expenditure.
Unbalanced Budget
An unbalanced budget is when government receipts are not equal to government expenditures. It can be a Surplus budget or a Deficit budget.
Surplus budget
A surplus budget is when Government Receipts are greater than the Government expenditures.
Fiscal deficit = Government receipt > government expenditure.
Deficit budget
A deficit budget is when government Expenditure is greater than government Receipts.
Deficit budget = Government expenditure > government receipt expenditure.