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What is fiscal deficit? What are its implications?

What is fiscal deficit? What are its implications?

    1 Answer

    1. Khizer

      Khizer

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      The fiscal deficit means the difference between total revenue and total expenditure of the government.

      the fiscal deficit takes place when the government wants to spend more than it is earning.

      1. The government spends its money on the development of a country for example- building a road, bridge, or
      2. on public benefit schemes, for example, old age pension, scholarship to students, Subsidies.

      Government revenue comes from the collection of taxes (GST), Direct tax(Income tax, personal income tax, and corporate tax), penalty.

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