Revision Notes For Class 12 Economics Macroeconomics Chapter 5 Government Budget And The Economy

Government budget plays a vital role in the economy. Basically, government budget is the annual statement that shows receipts and expenditures of a financial year. This chapter comprises of broad concepts – meaning of government budget and its objectives, public goods, revenue receipts, capital receipts, revenue expenditure, capital expenditure, plan expenditure, non- plan expenditure, deficit budget, measures to reduce fiscal deficit, discretionary fiscal policy.

Class 12 Macroeconomics Chapter 5 - Government Budget And The Economy
Class 12 Macroeconomics Chapter 5 - Government Budget And The Economy


Practise This Question

Identify the proper fractions from the following:

1. 117

2. 37

3. 99999

4. 114788

5. 14100