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What are the 3 types of budgets?

The three types of annual Government budgets based on estimates are Surplus Budget, Balanced Budget, and Deficit Budget. When the revenues are equal to or greater than the expenses, then it is called a balanced budget. You can read about the Highlights of the Union Budget 2021-22 for UPSC in the given link.

When the Government revenue exceeds the expenses then it is known as surplus budget and when the Government revenue is less than the expenses then it is known as the deficit budget.

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Further readings:

  1. Taxation System in India – Types, GST, VAT, Objectives, Limitation, Laffer Curve
  2. Double Taxation Avoidance Agreement (DTAA) – Countries Involved, Income Tax Provisions

Related Links

Corporate Tax – UPSC Notes for Indian Economy GS – 3 – Download PDF

Goods and Services Tax (GST) – An Overview on Slabs, Rates, Origin

Dividend Distribution Tax – Impact, Reason for Abolition

Revenue Receipts- Tax Revenue and Non-Tax Revenue (UPSC Notes)

Minimum Alternate Tax (MAT) – UPSC Indian Economy Notes

Previous Years Economics Mains Questions in UPSC Civil Service Exam, General Studies Paper – 3

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