If the government revenue expenditure exceeds revenue receipt, it is called:

Correct option is A

The correct answer is (a) revenue deficit.
 When the government's revenue expenditure (spending on day-to-day operations like salaries, subsidies, etc.) exceeds revenue receipts (income from taxes, fees, etc.), it results in a revenue deficit.
 This means the government is spending more money than it is earning through its own sources.
 This difference is calculated both in absolute terms and also as a percentage of the Gross Domestic Product (GDP) of the country.
 Fiscal Deficit formula:
 ​Fiscal Deficit = Total expenditure of the government (capital and revenue expenditure) – Total income of the government (Revenue receipts + recovery of loans + other receipts)