Shortfall if edict put into action (7)
I believe the answer is:
deficit
'shortfall' is the definition.
(I know that shortfall can be written as deficit)
'if edict put into action' is the wordplay.
'put into action' indicates an anagram (letters become active).
'if'+'edict'='ifedict'
'ifedict' anagrammed gives 'DEFICIT'.
(Other definitions for deficit that I've seen before include "There's something lacking" , "Excess of expenditure over income" , "Shortage" , "Show this to make a loss" , "Amount of which total falls short" .)