What are the different types of
surpluses and deficits?
First, the difference between operating revenue and total expenditure is the primary surplus or deficit.
This excludes:
- Special transfers (including top-ups to endowment and trust funds)
- NIRC
- Interest costs and loan expenses
- Capitalisation and depreciation of nationally significant infrastructure
Next, the basic surplus or deficit includes special transfers – such as one-off handouts – but not top-ups to endowment and trust funds.
The overall budget surplus or deficit further takes into account top-ups to endowment and trust funds (an outflow) and NIRC (an inflow).
Finally, the overall fiscal position is determined by including capitalisation and depreciation of nationally significant infrastructure.
Source: ministry of finance
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