Posted by Mohammad Faiz 3 weeks, 6 days ago
A government budget is an annual financial statement showing item wise estimates of
expected revenue and anticipated expenditure during a fiscal year.
2. Budget has two parts:
(a) Receipts; and (b) Expenditure.
3. Objectives of budget:
(a) Activities to secure a reallocation of resources:
(i) Private enterprises always desire to allocate resources to those areas of production where profits are high.
(ii) However, it is possible that such areas of production (like production of alcohol) may not promote social welfare.
(iii) Through its budgetary policy the government of a country directs the allocation of resources in a manner such that there is a balance between the goals of profit maximisation and social welfare.
Posted by Tajinder Singh Chind 2 days, 21 hours ago
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