Question 29
Public FinanceGovernment budget can be described as the sum of
- A.indirect tax, direct tax, and loans expected within a financial year
- B.planned recurrent expenditure and planned investment expenditure
- C.planned capital expenditure for a development plan within a plan period
- D.planned expenditure and expected revenue within a financial year
- E.planned expenses of all ministries within a financial year.
Show the answer and explanation
Answer: D (planned expenditure and expected revenue within a financial year)
Explanation
A budget is the government's plan of expected revenue and planned spending for one financial year.