If government in a fiscal year has its revenue receipts less than the expenditure, such country is having
-
deficit budget
- favorable budget
- balanced budget
- surplus budget
The correct answer is: A
Explanation
A deficit budget occurs when a government's expenditures exceed its revenue receipts in a fiscal year. It means that the government is spending more than it is earning, resulting in a budget deficit. Governments often resort to borrowing or other methods to finance the deficit.