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Context: The Union Government’s fiscal deficit further widened to ₹9.53 lakh crores, or close to 120% of the annual budget estimate, at the end of October of the current fiscal.
What is 'Fiscal Deficit'?
Definition: The difference between total revenue and total expenditure of the government is termed as fiscal deficit.
Description: The gross fiscal deficit (GFD) is the excess of total expenditure including loans net of recovery over revenue receipts (including external grants) and non-debt capital receipts.
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