What is meant by budget of tire government ? Give two differences betw – InterviewSolution

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1.

What is meant by budget of tire government ? Give two differences between revenue expenditure and capital expenditure.

Answer»

Budget is a statement of expected receipts and expenditue of the government over the period of financial year(i.e, April 1st to 31st March).

Basis	Revenue Expenditure	Capital Expenditure
Meaning	Revenue expenditure neither creates any asset nor reduces any liability of the government.	Capital expenditure either creates an asset or reduces the liability of the government.
Purpose	It is incurred for normal running of government departments and provision of various services.	It is incurred mainly for acquisition of assets and granting of loans and advances.
Nature	It is recurring in nature as such expenditure is spent by government on day-to-day activities.	It is non-recurring in nature.
Example	Salary, pension, interest etc.	Repayment of borrowings, expenditure on acquisition of capital asset, etc.

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