- Revenue Deficit: Revenue Expenditure > Revenue Receipts. - Capital Account transactions include Capital Receipts (like borrowings, disinvestment proceeds, recovery of loans) and Capital Expenditure (like creation of assets, repayment of loans, investments). - While "deficit under Capital account" isn't a standard precise term like Revenue Deficit, in the context of national accounts, the total borrowing requirement of the government is represented by the Fiscal Deficit. - Fiscal Deficit = Total Expenditure (Revenue Expenditure + Capital Expenditure) - Total Receipts excluding borrowing (Revenue Receipts + Non-debt creating Capital Receipts). - This can be broken down as: Fiscal Deficit = (Revenue Expenditure - Revenue Receipts) + (Capital Expenditure - Non-debt creating Capital Receipts). - The first part is the Revenue Deficit. The second part represents the net expenditure on the capital account which needs to be funded through borrowing. Therefore, Fiscal Deficit is the sum of the Revenue Deficit and the net capital outlay that requires borrowing.