What is meant by government budget? What are the different types of bu

1.	What is meant by government budget? What are the different types of budget?
Answer» Govt, budget is a statement of its expected receipts and expected expenditure for the given financial year. Govt, budget can be of three types: Deficit budget. Deficit budget is that budget in which the govt, expenditure exceeds its income. In case of deficit demand, deficit budget is thought to be suitable. Surplus budget. That budget in case of which the income of govt, exceeds its expenditure is called as surplus budget. This type of budget is suitable to control excess demand. Balanced budget. Balanced budget is that budget in case of which the income of the govt, equals its expenditure.

What is meant by government budget? What are the different types of budget?

Answer»

Govt, budget is a statement of its expected receipts and expected expenditure for the given financial year.

Govt, budget can be of three types:

Deficit budget. Deficit budget is that budget in which the govt, expenditure exceeds its income. In case of deficit demand, deficit budget is thought to be suitable.
Surplus budget. That budget in case of which the income of govt, exceeds its expenditure is called as surplus budget. This type of budget is suitable to control excess demand.
Balanced budget. Balanced budget is that budget in case of which the income of the govt, equals its expenditure.