Fiscal Deficit, Revenue Deficit, Market Borrowings
What is Fiscal Deficit
When a government's total expenditures exceed the revenue that it generates (excluding money from borrowings). The difference between total revenue and total expenditure of the government is termed as fiscal deficit. It is an indication of the total borrowings needed by the government. While calculating the total revenue, borrowings are not included. Generally fiscal deficit takes place due to either revenue deficit or a major hike in capital expenditure. Capital expenditure is incurred to create long-term assets such as factories, buildings and other development. A deficit is usually financed through borrowing from either the central bank of the country or raising money from capital markets by issuing different instruments like treasury bills and bonds.

This deficit is bridged by market borrowings. So, a higher deficit would push private borrowings away from the market and keep interest rates high.

2) What is Revenue Deficit
A mismatch in the expected revenue and expenditure can result in revenue deficit. Revenue deficit arises when the governmentís actual net receipts is lower than the projected receipts. On the contrary, if the actual receipts are higher than expected one, it is termed as revenue surplus. A revenue deficit does not mean actual loss of revenue. Letís take a hypothetical example, if a country expects a revenue receipt of Rs 100 and expenditure worth Rs 75, it can result in net revenue of Rs 25. But the actual revenue of Rs 90 is realised and expenditure is Rs 70. This translates into net revenue of Rs 20, which is Rs 5 lesser than the budgeted net revenue and called as revenue deficit. Ideally, this number should be zero or negative as a revenue deficit means borrowing to meet today's needs

What is Market Borrowings
How much the government is borrowing from the public, indirectly. It's indirect as scheduled commercial banks have to hold 24% of their deposits in government securities.
What is Implied GDP Growth Rate
The rate at which the economy is projected to grow, and the expected rate of inflation. From this flow the estimates of tax collections.

What is Tax Collections
By how much the government expects its tax collection to grow from various avenues. Gives a snapshot of growth expectations.

What is Revenues Foregone
Notional amount of revenues given up by government because of fiscal sops. If the government looks to raise taxes, it will look here.

What is Tax Arrears
The amount of tax payments pending, including those under dispute. It's a good indicator of how efficient the tax authorities are in collection of taxes and in disposing of appeals.
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What is Social Sector Spending
The amount spent by the government on social schemes. While the government wants to spend more, some argue it is throwing good money after bad.

What is Capital Expenditure
The government spending going into creation of assets. Similar to an individual saving today to secure tomorrow, this entails creation of assets, for example, a primary school or primary healthcare centre, that will yield benefits not just for one year, but for many years.

What is Resources Transferred To States & Local Bodies
The percentage of Centre's funds transferred to the states. Thanks to successive finance commissions recommending higher share in taxes collected by Centre, the states' claim on central resources rose by 50% in the last three years. Another reason is the spurt in socialsector schemes sponsored by the Centre and implemented by the states.