Government Budget

FRBM Act: Objectives and challengesIntroductionThe FRBM Act was enacted in 2003 to ensure fiscal discipline and long-term financial stability in India.It aims to reduce the fiscal deficit, control public debt, and promote transparency…

Types of deficits: Fiscal, revenue, primaryIntroductionA deficit occurs when a government's expenditure exceeds its revenue.There are three key types of deficits in public finance: Fiscal Deficit, Revenue Deficit, and Primary Deficit.Deficits…

Structure: Revenue and capital budgetsIntroductionThe Government Budget is a statement of estimated receipts and expenditures of the government over a financial year.It is divided into two main components: the Revenue Budget and the…