Concept:A deficit budget occurs when a government's total expenditure is greater than its revenue receipts in a fiscal year.Explanation:When revenue receipts are less than expenditure, the government spends more than it earns.This shortfall between income and spending is called a budget deficit.In such a situation, the government often borrows money or uses reserves to cover the gap.Therefore, this financial condition is known as a deficit budget.Answer:A. deficit budget