Q.From the following budget data (all figures in ₹ crore), calculate the Revenue Deficit, Fiscal Deficit, and Primary Deficit:
Tax Revenue = 500; Non-Tax Revenue = 100; Recovery of Loans = 30; Disinvestment Proceeds = 20; Revenue Expenditure = 700; Capital Expenditure = 250; Interest Payments (included within Revenue Expenditure) = 90.

Build up Revenue Receipts, Non-debt Capital Receipts, and Total Expenditure from the given components first, then apply the three deficit formulae in sequence, each building on the last. …

Step 1 — Build the required totals.

Revenue Receipts = Tax Revenue + Non-Tax Revenue = 500 + 100 = 600.

Non-debt Capital Receipts = Recovery of Loans + Disinvestment Proceeds = 30 + 20 = 50.

Total Expenditure = Revenue Expenditure + Capital Expenditure = 700 + 250 = 950.

Step 2 — Revenue Deficit.

Step 3 — Fiscal Deficit.

Step 4 — Primary Deficit.

Step 5 — Dual-solve cross-check. An independent second route to the Fiscal Deficit: Fiscal Deficit = Revenue Deficit + Capital Expenditure − Non-debt Capital Receipts = 100 + 250 − 50 = 300. This matches Step 3 exactly, confirming the figures are internally consistent across both routes. …

Cross-check the Fiscal Deficit via the alternative identity Fiscal Deficit = Revenue Deficit + Capital Expenditure − Non-debt Capital Receipts, which …

A common error is subtracting the full Revenue Expenditure (700) rather than isolating Interest Payments (90) when computing the Primary Deficit — the Primary Deficit formula only ever subtract …