Question

Is fiscal deficit always greater than revenue deficit ?
If there are no borrowings then will the fiscal deficit be zero ?
Is fiscal year and financial year both same for the economy ?
If fiscal deficit rises then will the primary deficit also rise ?
Payment of fees to a lawyer engaged by the firm - will it be included in national income ?

Answer 1

Is fiscal deficit always greater than revenue deficit ?- Yes,it is. FIscal deficit always greater than revenue deficit

If there are no borrowings then will the fiscal deficit be zero ? No,it will not. If there are no borrowings the fiscal deficit isn't to be zero

Is fiscal year and financial year both same for the economy ?No, they ate not the same

If fiscal deficit rises then will the primary deficit also rise ? Yes, it will

Payment of fees to a lawyer engaged by the firm - will it be included in national income ? Yes, it will.