Match List-I with List-II

List-I	List-II
(A) Capital receipts	(I) Excess of total expenditure over and above all total receipts of the government
(B) Corporate saving	(II) Borrowings of the government
(C) Budget deficit	(III) Retained earnings of firm
(D) Fiscal deficit	(IV) Create a liability for the government

Choose the correct answer from the options given below:

Option 1 -> Incorrectly matches Capital receipts with Budget deficit definition.

Option 2 -> Incorrectly matches Capital receipts with Budget deficit definition.

Option 3 -> Incorrectly matches Capital receipts with Budget deficit definition.

Option 4 -> Correctly matches all terms: Capital receipts create liability, Corporate saving is retained earnings, Budget deficit is excess expenditure, and Fiscal deficit represents borrowings.

Hence, Option 4: (A) - (IV), (B) - (III), (C) - (I), (D) - (II) -> Capital receipts (like government borrowings, disinvestment) create liabilities or reduce assets. Corporate saving represents undistributed profits or retained earnings. Budget deficit measures total expenditure exceeding total receipts. Fiscal deficit indicates the borrowing requirement of the government to meet its expenditure gap (Total Expenditure - Total Receipts excluding borrowings). -> correct