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Question
Define or Explain.
Budget
Short Note
Solution
Budget is a financial statement showing item-wise expected government receipts and government payments during a financial year. It also presents the government's report on the financial performance during the previous fiscal year. A government budget is not only a financial statement, but also a reflection of the government objectives, policies and their expected effects.
shaalaa.com
Public Economics - Budget (1 Year)(1 April to 31 March)
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RELATED QUESTIONS
Match the following groups:
| Group A | Group B | ||
| 1. | Deficit budget | a. | Tax revenue |
| 2. | Government budget | b. | Capital receipts |
| 3. | Fees, license fee | c. | Irrigation |
| 4. | Borrowings | d. | Non-tax revenue |
| 5. | Plan expenditure | e. | One year |
| f. | Government expenditure > Government revenue | ||
| g. |
Two years |
||
State whether the following statement is true or false.
The budget is a monthly statement.
Define 'or' explain the following concept.
Fixed capital
