Currently one can say that the budget presented by the Government is deficit budget. Rs 34,83,236 crore is the proposed expenditure of the Union Government for 2021-22. You can read about the Union Budget 2021-22 Summary in the given link.

The expected revenue receipts for 2021-22 is Rs 19,76,424 crore (other than borrowings). The fiscal deficit target for 2021-22 is 6.8% of the GDP and revenue deficit target is 5.1% of the GDP in 2021-22.

Further readings:

Taxation in India – Direct taxes & Indirect Taxes, Features of Taxation System
Revenue Receipts- Tax Revenue and Non-Tax Revenue

Related Links
Important Economic Terms Related to Union Budget	DTAA – Countries Involved, Income Tax Provisions, Benefits
Fiscal Responsibility & Budget Management (FRBM) Act – UPSC Economics Notes	Difference between Economic Survey and Union Budget
Goods and Services Tax Council – Background and Composition [UPSC Polity Notes]	Previous Years Economy Questions in UPSC Prelims [2013-2021]
Interim Budget – Difference between Interim Budget & Vote-On-Account	Economics Notes For UPSC IAS Examination

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