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GOVERNMENT BUDGET CLASS 12 MACROECONOMICS
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IT IS A NOTES FOR CLASS 12 2024 MACROECONOMICS GOVERMENT BUDGET
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CHAPTER – 10GOVERNMENT BUDGET AND THE
ECONOMY
, MEANING OF BUDGET
‘BUDGET’:-
A Budgets is a document containing detailed
programmes and policies of action for the
given fiscal year.
Government budget is an annual statement,
showing item wise estimates of receipts and
expenditures during a fiscal year
,OBJECTIVES OF GOVERNMENT BUDGET :-
, 1.} REALLOCATION OF RESOURCES :-
1. Tax concessions or subsidies : To encourage investment,
government, can give tax, concession, subsidies etc. to the
producers.
2. Directly producing goods and services : there are many non-
profitable economic activities which are not undertaken by the
private sector like, water, supply, sanitation, law and order,
national income, etc. These are called ‘Public Goods**’.
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