Fiscal Deficit of a country is the situation wherein government expenditure exceeds over the revenue receipts, excluding the money borrowing. It is an important indicator to measure the deficit. The fiscal deficit is a more important indicator than the budget Deficit. Thus, in mathematical terms, Fiscal Deficit of a country = Total Expenditures – Revenue … Read more
Budget deficit of a country is the financial situation where the expenditure is greater than the revenue of a country. Generally, a country adopts deficit financing practice to finance the heavy expenditure with external resources. Hence, the gap between the expenditure and revenue of a country is reduced through financing the expenditure by either printing … Read more
Introduction of Taxation in India Taxation in India or in other countries play a key role in the development of the countries. So, Tax is a compulsory financial charge or charge imposed on the taxable income of taxpayers (an individual and … Read more