Question

What are the types of budget?

Answer 1

There are three types of budget in general.

1. Balanced Budget: In this type of budget, government expenditure is equal to government revenue.

2. Surplus Budget: In this type of budget, government revenue is greater than government expenditure due to which there is a surplus in the budget.

3. Deficit budget: In this type of budget, government expenditure is greater than government revenue due to which there is a deficit in the budget.