Question

What is the accounting structure of the Union Budget of India? Explain the revenue budget of the central government?

Answer 1

Answer:

It is classified into two parts – revenue budget and capital budget. Revenue budget contains the government's revenue receipts and expenditure, while the Capital Budget comprises of the government's capital receipts and payments. The Union Budget for 2017-18 presented a noticeable shift in more ways

What is the revenue budget? This consists of the revenue receipts of the government (tax revenues and other revenues) and the expenditure met from these revenues. Tax revenues comprise proceeds of taxes and other duties levied by the Union

Explanation:

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