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Notes/Economy

EconomyFreeUPSC GS III

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Budget & Fiscal Policy — Summary

  • Subject: Economy
  • Exam: UPSC
  • Status: published
  • Author: Contributor
  • Read: 10 min

Budget & Fiscal Policy

A compact revision sheet for GS III budget vocabulary.

Key ratios

  • Fiscal deficit — total expenditure minus non-debt receipts
  • Revenue deficit — revenue expenditure minus revenue receipts
  • Primary deficit — fiscal deficit minus interest payments

Policy levers

  1. Tax vs non-tax receipts
  2. Capex vs revenue spending
  3. FRBM glide path