Revenue Deficit in India:
Revenue deficit refers to the excess of revenue expenditure over revenue receipts. In India, revenue deficit is a common concern as it indicates a financial imbalance and a strain on the economy.

Explanation of the Correct Answer:
The correct answer to the question is option 'B' - Negative. This means that revenue deficit in India is negative, indicating that revenue receipts are higher than revenue expenditure. Let us delve deeper into this explanation.

Understanding Revenue Deficit:
Revenue deficit is an important indicator of the financial health of a country. It measures the extent to which a government's current expenditure exceeds its current revenue. It is calculated by subtracting revenue receipts from revenue expenditure.

Revenue Receipts:
Revenue receipts refer to the income generated by the government through various sources such as taxes, fees, fines, interest, dividends, etc. These receipts are used to meet the day-to-day expenses of the government and are not used for capital investment.

Revenue Expenditure:
Revenue expenditure includes all the expenses incurred by the government for its day-to-day functioning and to provide essential services to the public. It includes salaries, pensions, subsidies, interest payments, maintenance expenses, etc.

Implication of Negative Revenue Deficit:
A negative revenue deficit indicates that revenue receipts are higher than revenue expenditure. This implies that the government has surplus revenue, which can be utilized for development purposes, infrastructure projects, or reducing the overall fiscal deficit.

Benefits of Negative Revenue Deficit:
1. Economic Stability: A negative revenue deficit signifies sound fiscal management and economic stability. It indicates that the government's revenue sources are sufficient to meet its current expenses without relying heavily on borrowings or deficit financing.

2. Investment in Development: The surplus revenue can be utilized for capital investment, infrastructure development, and social welfare programs. This promotes economic growth, job creation, and improved living standards.

3. Reduced Borrowings: With surplus revenue, the government can reduce its reliance on borrowings, thereby reducing the overall debt burden. This leads to improved credit ratings and lower interest payments.

4. Sustainable Fiscal Policy: Negative revenue deficit reflects a sustainable fiscal policy where revenue generation is in line with expenditure. It ensures long-term financial stability and reduces the risk of fiscal imbalances.

Conclusion:
In conclusion, revenue deficit in India is negative, indicating that revenue receipts exceed revenue expenditure. This is a positive sign for the economy as it reflects sound fiscal management, economic stability, and the ability to invest in development projects.