The Centre’s fiscal deficit jumped to ₹15 lakh crore
Fiscal deficit is the difference between the government’s total expenditure and its total receipts excluding borrowing.
It is the difference between the total non-debt creating receipts (the Revenue Receipts plus Non-Debt Capital Receipts (NDCR)) and the total expenditure.
Gross fiscal deficit = Total expenditure – (Revenue receipts + Non-debt creating capital receipts)
From the financing side, Gross fiscal deficit = Net borrowing at home + Borrowing from RBI + Borrowing from abroad
Revenue deficit is a part of fiscal deficit (Fiscal Deficit = Revenue Deficit + Capital Expenditure - non-debt creating capital receipts).