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Banking Term: Fiscal Deficit

Find important banking term that is useful in upcoming banking exam.

Feb 23, 2015 15:06 IST
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  • Fiscal deficit is considered as the difference between the government’s expenditure and revenue (excluding the borrowing).
  • Also, country’s fiscal deficit is usually communicated as a percentage of its gross domestic product (GDP).
  • Fiscal deficit takes place due to either revenue deficit or a major hike in capital expenditure.

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