Explanation:

The difference between Revenue Receipts plus Non-debt Capital Receipts (NDCR) and total expenditure is called the Fiscal Deficit. Here's a brief explanation of each term:

- Revenue Receipts: Income from regular operations, such as taxes and interest.

- Non-debt Capital Receipts (NDCR): Income from non-borrowing sources, like asset sales and loan recoveries.

- Total Expenditure: All government spending, including both revenue and capital.

Now, let's examine the options:

- Option 1: Revenue Deficit

- Difference between revenue expenditure and revenue receipts.

- Option 2: Fiscal Deficit

- It's the shortfall when total expenditure exceeds Revenue Receipts plus NDCR.

- Option 3: Effective Revenue Deficit

- Revenue deficit minus grants for capital creation.

- Option 4: Primary Deficit

- Fiscal deficit minus interest payments.