ECONOMICS
BUDGETING
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Detailed explanation-1: -Based on conditions prevailing, a budget can be classified into 2 types; Basic Budget, and. Current Budget.
Detailed explanation-2: -The budget may be classified into fixed cost, variable cost and semi-variable cost.
Detailed explanation-3: -The budget of a government is a summary or plan of the anticipated resources (often but not always from taxes) and expenditures of that government. There are three types of government budget: the operating or current budget, the capital or investment budget, and the cash or cash flow budget.
Detailed explanation-4: -Functional classification of budget was under taken first time in India for the 1967-68 budget. Functional classification helps in analysing how the central government allocating funds to different activities or purpose in accordance with the priorities laid down in the plan.
Detailed explanation-5: -Balanced Budget. Surplus Budget. Deficit Budget. 31-Jan-2023