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(3) Primary Deficit, , Primary deficit is the difference between fiscal deficit and intere, , payment. It is estimated as under: st, Primary Deficit = Fiscal deficit — Interest payment, , PD =FD-IP, (Here, PD = Primary deficit; FD = Fiscal deficit; and IP = Interest, payment.), , While fiscal deficit shows borrowing requirement of the government, inclusive of interest payment on the accumulated national deb;, , primary deficit shows borrowing requirement of the government, exclusive of interest payment.