Maharashtra State BoardHSC Arts 12th Board Exam
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Define Or Explain the Concept: Budget - Economics

Define or Explain the concept: 

 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: Meaning of Government Budget
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