ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A balanced budget is a condition in financial planning or the budgeting procedure where the total revenues are equivalent to or greater than the total expenditure.

Detailed explanation-2: -A balanced budget is a situation in financial planning or the budgeting process where total expected revenues are equal to total planned spending. This term is most frequently applied to public sector (government) budgeting.

Detailed explanation-3: -A balanced budget is when the government spends an amount equal to the amount it collects in taxes. A budget deficit is when the government spends more than it collects in taxes. A budget surplus is when the government collects more in taxes than it spends.

Detailed explanation-4: -A balanced budget is a budget (i.e., a financial plan) in which revenues are equal to expenditures, such that there is no budget deficit or surplus.

Detailed explanation-5: -3. Deficit budget – when estimate government receipts are less than the government expenditure. In modern economies, most of the budget are of this nature . that the estimate government receipts < anticipated government expenditure.