Question

What are the main components of budget?

Answer 1

Budget is a statement of the estimates of the government receipts and government expenditure during the period of the financial year. There are two main component of a budget:

1. Receipts - It refers to the estimated money receipts of the government from all sources during the fiscal year.

2. Expenditure- It refers to the estimated expenditure of the government related to its developmental and non developmental programs during the fiscal year.