Distinguish between the following
Revenue budget and Capital budget.
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Solution
Revenue Budget | Capital Budget |
Revenue budget comprises of those items that neither leads to a change in the assets nor a change in the liabilities of the government. | Capital budget comprises of those items that lead to a change in either the assets or liabilities of the government. |
It consists of revenue receipts and revenue expenditure. | It consists of capital receipts and capital expenditure. |
It includes such revenue and expenditure that are incurred in the day to day life. | It includes such items that are long-term in nature. |
Concept: Features of Government Budget
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