What do the following government related terms mean: budget, a budget deficit, revenue, and expenditure?

1) Budget refers to a financial statement about the estimated expenditures and revenues that government of a country is expect to occur in the current fiscal year. The statement prepared by the government of a country is based on the previous year expected and realized estimates of the budget.

2) The budget deficit is a situation that occurs when the budgetary expenses exceeds the budgetary receipts. It is considered as a good indicator of the economic health of a country. The deficits in the budget occur mostly in case of economic contraction where the government expenditures increase in a higher fraction relative to the government receipts.

3) The revenue of the government are the total of all the receipts made by the government that can be classified under two heads, namely, revenue receipts and capital receipts.

The revenue receipts are those that results neither in the creation of assets nor in the reduction of liabilities. The receipts are earned by the imposition of taxes or non tax sources. The capital receipts are those which either create assets or reduce a liability. For example, the funds raised by the government.

4) The expenditure of the government is the total of all the government spending on the developmental or non-developmental purposes. For example, salaries, interest and pensions payments made by the government, grants made to the local and state governments, expenditures incurred on the defense services.