Question

explain the two components of the government budget

Answer 1

Capital receipts are receipts of the government which create liabilities or reduce assets. Capital expenditure is the expenditure of the government which either reduces liability or creates an asset.

Answer 2

Answer:Answer:The main components or parts of government budget are explained below.

Revenue Budget. This financial statement includes the revenue receipts of the government i.e. revenue collected by way of taxes & other receipts. ...

Capital Budget- It deals with the capital aspect of the government budget and it consists of capital receipt and capital expenditure

Explanation: