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Revenue receipts are further classified into:Tax Revenue and Non-Tax RevenueCapital Receipts:These receipts either reduce the government’s assets or create liabilities.
Major sources of capital receipts include borrowings, disinvestment (resale of shares in public sector undertakings), and recovery of loans.Capital Expenditure:This includes government spending aimed at creating assets such as roads, railway lines, canals, hospitals, schools, etc., or reducing its liabilities, such as loan repayments.Revenue Expenditure:This comprises government spending that neither reduces liabilities nor creates assets.
Examples include salary payments to government employees, provision of free health and education services, and maintenance of public property.Balanced Budget:This occurs when the Central Government’s estimated expenditure matches its expected receipts within a financial year.
totaljobs com in india for beginners ✌️【365vc.net】✌️Small investment, big returns! Start at ₹500 and grow your wealth month by month.While it promotes economic stability, it can be impractical during periods of hyperinflation or recession.Surplus Budget:This happens when the government’s expected revenues exceed its estimated expenditures in a fiscal year.
totaljobs com in india for beginners ✌️【365vc.net】✌️Save, invest, and grow! ₹500 to begin, with potential for 100% monthly profits.This indicates that the government is generating more income from taxes than it is spending on public welfare.Deficit Budget:This arises when the government’s estimated expenditures surpass its revenues in a fiscal year.
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totaljobs com in india for beginners ✌️【365vc.net】✌️Invest smartly in blockchain technology. Start small, earn big—₹500 to 100% returns monthly.This important document outlines the government’s fiscal policies, plans, and programs.The process starts with the Finance Ministry issuing circulars to ministries and entities, providing guidelines for submitting their financial needs.
Ministries then submit their financial data and estimates, which are reviewed by top government officials.
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Finally, the Finance Minister presents the Budget to Parliament, summarising key points and the rationale behind the proposals.
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