Indian Economy
The budget deficit means

the excess of total expenditure, including loans, net of lending over revenue receipts
difference between revenue receipts and revenue expenditure
fiscal deficit less interest payments
difference between all receipts and all the expenditure

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Indian Economy
Subsidies mean

payment by government for purchase of goods and services
payment made by business enterprises to factors of production
payment made by the government to business enterprises, without buying any goods and services
payment made by companies to shareholders

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