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Fourteenth Finance Commission - Fiscal Consolidation
3 years ago
Fiscal Deficit means Total expenditure - Total non debt creating receipts. In other words market borrowings aressubtracted from Budget deficit. In lecture I have said "Fiscal deficit means Budget deficit + market Borrowing and future liability which is a mistake. It should have been "Fiscal deficit means Budget deficit - Market borrowings and liabilities. Apologies for the goof up.