Compared to the budgetary deficit, the size of fiscal deficit will generally be

Budgetary deficit is the excess of total government expenditure over total receipts (including both revenue receipts and capital receipts such as market borrowings), whereas fiscal deficit is the excess of total expenditure over non-debt receipts (revenue receipts plus non-debt capital receipts). Algebraically, fiscal deficit equals the budgetary deficit plus total market borrowings and other liabilities. Because governments normally undertake positive borrowing, the size of the fiscal deficit is generally greater than the budgetary deficit.