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

The situation where government expenditure in a fiscal year exceeds its revenue is referred to as a budget deficit. This means that the government has spent more money than it has earned in that year, which can result in a negative impact on the economy. A budget deficit can occur for a variety of reasons, such as a decrease in tax revenue or an increase in government spending. In order to fund the deficit, the government may need to borrow money, which can lead to an increase in national debt. Alternatively, the government may implement policies to reduce spending or increase revenue in order to balance the budget.