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How many types of budgets are there in India?

Based on the estimates there are three types of Government budgets in India, they are, surplus budget, balanced budget, and deficit budget. You can read about the Union Budget 2021-22 Summary in the given link.

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In a financial year, if the expected Government receipts is equal to the estimated Government expenditure, then it is known as the balanced budget of the Government. If the economy is facing deflation or economic depression, then the balanced budget will not help in creating a financially stable economy.

Further readings:

  1. Taxation in India – Direct taxes & Indirect Taxes, Features of Taxation System
  2. Revenue Receipts- Tax Revenue and Non-Tax Revenue

Related Links

Important Economic Terms Related to Union Budget

DTAA – Countries Involved, Income Tax Provisions, Benefits

Fiscal Responsibility & Budget Management (FRBM) Act – UPSC Economics Notes

Difference between Economic Survey and Union Budget

Goods and Services Tax Council – Background and Composition [UPSC Polity Notes]

Previous Years Economy Questions in UPSC Prelims [2013-2021]

Interim Budget – Difference between Interim Budget & Vote-On-Account 

Economics Notes For UPSC IAS Examination

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