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.