Fiscal Deficit is the excess of total expenditure over total receipts excluding borrowings. In other words, it gives the amount needed by the government to meet its expenses. Therefore, a large Fiscal Deficit signifies a large borrowings. Primary Deficit is Fiscal Deficit of the present year minus interest payments on previous borrowings. Whereas Fiscal Deficit represents the government's total borrowing involving interest payments, it shows the amount of borrowing excluding interest payments. The current account deficit is a measurement of a nation's trade where the value of the goods &services it imports exceeds the value of the products it exports. A capital account deficit takes place when the equity in a business turns negative. This signifies that the total amount of liabilities exceeds the total amount of assets.