The situation where government revenue in a fiscal year is less than its expenditure is referred to as

When the government spends more money than it earns in revenue during a fiscal year, it results in a situation called a "budget deficit." This means that the government is operating at a loss and will need to borrow money to cover the shortfall. In other words, it has a negative balance or a deficit in its budget. It can happen due to various reasons such as increased government spending, decreased tax revenues, or unexpected expenses. A budget deficit is the opposite of a budget surplus, where the government earns more than it spends, and a balanced budget, where the government earns the same as it spends.