Question

What are the categories of government budget ?

Answer 1

A budget can be of 3 types: BalancedBudget: When government receipts are equal to the government expenditure, it is called a balanced budget. DeficitBudget: When government expenditure exceeds government receipts, thebudget is said to be deficit. A deficit can be of 3 types, Revenue, Fiscal and Primary deficit.

Answer 2

Government budgets are of the following types: Union Budget : The union budget is the budget prepared by the central government for the country as a whole.