Main Budget Document is called Annual Financial Statement
As per Article 112 of constitution, It must distinguish expenditure and Income on Revenue Account from Capital Account
Hence, there are 2 types of Budget:
- Revenue Budget
- Capital Budget
Hence, we need to learn 4 Things
- Revenue Receipts OF Govt Budget
- Capital Receipts of Govt Budget
- Revenue Payments of Govt Budget
- Capital Payments of Govt Budgets
Lets learn about it in detail one by one
NCERT Questions
No questions in this part
Other Books
Question 1
In the following questions, select the correct answers:
Which of the following are the components of a budget?
- Capital Budget
- Revenue Budget
- Both A and B
- Neither A nor B
View answer
C. Both A and B
Explanation
Both Capital Budget and Revenue Budget are components of a budget.
Oswaal Questions
Question 1
Revenue budget includes:
- revenue receipts of the government
- revenue expenditure of the government
- capital receipts of the government
- both (A) and (B)
View answer
D. both (A) and (B)
Explanation
Revenue budget is the statement of estimated revenue receipts and estimated revenue expenditure during a fiscal year.