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Define Or Explain. Budget - Economics

Short Note

Define or Explain.

Budget 

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Solution

Budget is a financial statement showing item-wise expected government receipts and government payments during a financial year.  It also presents the government's report on the financial performance during the previous fiscal year. A government budget is not only a financial statement, but also a reflection of the government objectives, policies and their expected effects.

Concept: Public Economics - Budget (1 Year)(1 April to 31 March)
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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 14 Public Economics
Exercise | Q 1.2 | Page 129
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