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Distinguish Between: Deficit Budget and Balanced Budget - Economics

Distinguish Between

Distinguish between:

Deficit budget and balanced budget 

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Solution

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.
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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 14 Public Economics
Exercise | Q 1.3 | Page 129
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