These are the four different concepts of Budget Deficit. 

a. Budget Deficit:- It is the difference between the total expenditure, current revenue and net internal and external capital receipts of the government. 

Formulae: B.D = B.E > B.R (B.D= Budget Deficit, B.E. Budget Expenditure B.R= Budget Revenue 

b. Fiscal Deficit:- It is the difference between the total expenditure of the government, the revenue receipts PLUS those capital receipts which finally accrue to the government. 

Formulae: F.D = B.E - B.R (B.E > B.R. other than borrowings) F.D=Fiscal Deficit,

B.E= Budget Expenditure, B.R. = Budget Receipts. 

c. Revenue Deficit: - It is the excess of governments revenue expenditures over revenue receipts. 

Formulae: R.D= R.E – R.R., When R.E > R.R., R.D= Revenue Deficit, R.E= Revenue Expenditure, R.R. = Revenue Receipts. 

d. Primary Deficit: - It is the fiscal deficit MINUS Interest payments. 

Formulae: P.D= F.D – I.P, P.D= Primary Deficit, F.D= Fiscal Deficit, I.P= Interest Payment.