Deficit budget and balanced budget
|Deficit budget||Balanced budget|
|It refers to the excess of total budget expenditure over the total budget receipts.||It refers to the budget in which the total budget expenditure is equal to the total budget receipts.|
|It leads to an increase in the liabilities of the government or causes a reduction in its reserves.||It has no effect on the liabilities or the reserves of the government.|
Concept: Types of Budget
Is there an error in this question or solution?