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Question
Answer the following question.
What is meant by
(i) Union budget
(ii) State budget
Answer in Brief
Solution
(i) It is the budget prepared by the central government for the country as a whole.
This budget is presented in two parts.
(1) Railway budget and
(2) Main Budget.
(ii) It is repaired by state govt, such as one budget of Punjab govt. UP govt. etc.
shaalaa.com
Types of Budget - Union
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