Budget deficit refers to the excess of government expenditure over government revenue. It is a measure of the government's fiscal health or imbalance. Different types of budget deficits (revenue deficit, fiscal deficit, primary deficit) focus on the government's accounts. The balance of payments deficit, on the other hand, relates to the difference between a country's total payments to and receipts from foreign countries, covering both current and capital accounts. It is an external sector concept, not a component of the government's budget deficit calculation.