What is meant by Fiscal Deficit? Can there be a fiscal deficit in government budget without a revenue deficit? Explain. 

Meaning. Fiscal deficit is defined as excess of total expenditure over total receipts excluding borrowings during a fiscal year. In simple words, it is the amount of borrowing the government has to resort to meet its expenses. A large deficit means a large amount of borrowing. Fiscal deficit is a measure of how much the government needs to borrow from the market to meet its expenditure when its revenues are inadequate. In the form of an equation:
Fiscal Deficit = Total Expenditure - Total Receipts excluding Borrowings = Borrowing
If we add borrowing, fiscal deficit is zero. Clearly fiscal deficit gives borrowing requirement of the government. Let it be noted safe limit of fiscal deficit is considered to be 5% of GDP. Again borrowing includes not only accumulated debt but also interest on debt. If we deduct interest payment on debt from borrowing, the balance is called primary deficit.
Fiscal Deficit = Total Expenditure - Revenue Receipts - Capital Receipts excluding Borrowing
Fiscal deficit is the most important measure of deficit budget.
Can there be Fiscal deficit without Revenue deficit? Fiscal deficit without revenue deficit is possible (i) when revenue budget is balanced but capital budget shows a deficit or (ii) when there is surplus in revenue budget but deficit in capital budget is greater than surplus of revenue budget. The following equations further clarify the distinction between the two.
Revenue Deficit = Revenue expenditure - Revenue receipts
Fiscal Deficit = Total expenditure (Revenue exp. + Capital exp.) - Revenue receipts - Capital receipts excluding borrowing.