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Why has budget been compared with a magic box ? Explain. |
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Answer» The origin of the word ‘Budget’ is traceable to the French word “Bougette”, which means a small leather bag. In 1733, in England, the word ‘budget’ was used to denote ‘a magic box’. Budget is a statement of the estimates of the Government Receipts and Government Expenditure during the period of financial year. The contents of budget are kept secret till it is not presented before the parliament of a country. Statements are kept in a leather bag which is opened in front of parliament. Therefore, budget has been compared with a magic box which is opened in front of the parliament. |
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