What is Budget Deficit ? Types of Budgetary Deficit - India Trends

What is a Budget Deficit ? Meaning ↓
When the government expenditure exceeds revenues, the government is having a budget deficit. Thus the budget deficit is the excess of government expenditures over government receipts (income). When the government is running a deficit, it is spending more than it's receipts.Image Credits © Alex Grech.The government finances its deficit mainly by borrowing from