Fiscal Deficit #FiscalDeficit

  It is the difference between total expenditure and total receipts except borrowing and other liabilities.

  FD = Total expenditures – total receipts EXCEPT borrowing and other liabilities.

  FD means government is spending more than its income (all receipts of the government are not income. Receipts are all forms of money accruing to the government, be it income or borrowings).