What is a budget deficit?

Correct option is D

The correct answer is (d) The excess of government expenditure over revenue.
 A budget deficit occurs when a government spends more money than it receives in revenue during a specific period, usually a fiscal year.
 Government revenue includes sources such as taxes, fees, and income from investments, while government expenditure includes spending on various sectors like defense, social welfare programs, infrastructure, education, healthcare, and more.
 When government expenditure exceeds revenue, it results in a budget deficit, which is typically financed through borrowing, either domestically or internationally, or by printing more currency, which can lead to inflation.
Facts to remember:
 There are three types of budget deficit. They are explained as follows:
1. Fiscal deficit
2. Revenue deficit
3. Primary deficit