Balanced, Surplus and Deficit Budget

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Different Types of Budget Balanced Budget  RECEIPTS 1000 PAYMENTS 1000 SURPLUS 0 Surplus Budget  RECEIPTS 1000 PAYMENTS 800 SURPLUS 200 Deficit Budget  RECEIPTS 1000 PAYMENTS 1100 SURPLUS 0 DEFICIT 100 What is Balanced Budget RECEIPTS 1000 PAYMENTS 1000 SURPLUS 0 If Govt Receipts are equal to Govt Expenditure it is called Balanced Budget In this case., Govt spends exactly equal to Money it collects It is Rare Case What is Surplus Budget RECEIPTS 1000 PAYMENTS 800 SURPLUS 200 If Govt Receipts are more than Govt Expenditure it is called Surplus Budget Here, Govt spends less than Money it collects It is also Rare Case What is Deficit Budget RECEIPTS 1000 PAYMENTS 1100 SURPLUS 0 DEFICIT 100 If Govt Receipts are less than Govt Expenditure it is called Deficit Budget Here, Govt spends more than it collects It is most common case