Revenue Deficit

Q. The revenue expenditure of a government is ₹300 crore. The revenue receipts of the same government are ₹400 crore.

Which of the following is correct?

1. There is a revenue deficit of ₹100 crore
2. There is a revenue deficit of ₹700 crore
3. There is a revenue deficit of ₹350 crore
4. There is no revenue deficit.