The difference between the government's total revenue and total expenses—excluding borrowings—is known as the fiscal deficit.
The total worth of all products and services produced in a nation during a certain time period is its GDP.
When the government's net income is less than its total revenue expenditure, a revenue deficit arises.
The term "capital expenditure" describes the money that the government spends on purchasing, modernizing, and preserving tangible assets.
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The taxpayer pays direct taxes to the government, while a middleman collects indirect taxes from the individual.
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