The correct answer is: Excess of expenditure over revenue.
Fiscal deficit is the difference between government’s total expenditure and total revenue. It is a measure of the government’s borrowing requirement. A fiscal deficit occurs when the government spends more money than it receives in revenue. This can happen for a number of reasons, such as an economic recession, a decrease in tax revenue, or an increase in government spending.
A fiscal deficit can be financed through borrowing, which increases the government’s debt. It can also be financed through printing money, which can lead to inflation.
A fiscal deficit is not necessarily a bad thing. It can be used to stimulate the economy during a recession. However, if a fiscal deficit is too large, it can lead to problems such as high debt and inflation.
Excess of revenue over expenditure is called a fiscal surplus. This occurs when the government receives more money in revenue than it spends. A fiscal surplus can be used to reduce the government’s debt or to invest in public projects.
Balance between revenue and expenditure is called a balanced budget. This occurs when the government’s revenue and expenditure are equal. A balanced budget is not necessarily a good thing, as it can mean that the government is not spending enough money to stimulate the economy.
None of the above is not a correct answer.