Based on the feasibility of estimates, the Government budget can be categorised as deficit budget, surplus budget and balanced budge.You can read about the Union Budget 2021 Summary in the given link.
An annual financial statement which gives information on the expected government receipts or revenue and the estimated government expenditure is known as the Government budget. If the expected government receipts are equal to the estimated government expenditure in a particular financial year then it is known as the balanced budget.
- Difference between Economic Survey and Union Budget
- Previous Years Economics Mains Questions in UPSC Civil Service Exam, General Studies Paper – 3