Difference between fiscal deficit and budget deficit

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Budget deficit is commonly known as the national debt. Budget deficit means that a country has more money going out when compared to the money its earning. Budget deficits can usually be resolved by raising taxes, cutting spending or a combination of both. Unlike fiscal deficit, while calculating budget deficit, the country's borrowings are taken into consideration. India's budget deficit last fiscal year was 4.9 percent of gross domestic product.

In case of fiscal deficit, it can be measured without taking into account the interest it pays on its debt. Fiscal deficit is basically the difference between the money it spends and the money it makes.

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