Which measure captures the difference between the government's total expenditure and total receipts, excluding borrowing?

Correct option is B

· The measure that captures the difference between the government's total expenditure and total receipts, excluding borrowing is Fiscal deficit.
· It indicates how much the government is spending beyond its current revenue.
Details of other options-
· Primary Deficit: This subtracts interest payments on existing debt from the fiscal deficit.
· Gross Fiscal Deficit: This is a broader term that includes borrowings by public sector enterprises.
· Revenue Deficit: This focuses solely on the difference between revenue expenditure (day-to-day running expenses) and revenue receipts (taxes and other income).