In: Others What is fiscal deficit? What are its implications? What is fiscal deficit? What are its implications? 1 Answer Khizer 1 Question 6 Answers 0 Best Answers 30 Points View Profile Khizer Added an answer on August 30, 2020 at 12:25 pm 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. The government spends its money on the development of a country for example- building a road, bridge, or 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. 0 Reply Share Share Share on WhatsApp Share on Facebook Share on Twitter Share on LinkedIn Sorry, you do not have a permission to answer to this question.