Question

What is government budget and write its four main features.

Answer 1

Dear Student
Government budget is the financial statement that shows expected revenue and anticipated expenditure of the coming financial year.
The following points summarise the features of government budget.

1. It is a financial statement showing item-wise expected government receipts and government payments during a particular financial year.
2. It presents the government's report on the financial performance during the previous fiscal year.
3. It is a reflection of the government objectives, policies and their expected effects.
4. Government budget also shows the different schemes and welfare programmes in financial year.

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