(a)Difference of total expenditure and income by revenue from all sources.
(b)Government spends in excess of revenues so that a budget deficit is incurred which is financed by the borrowings.
(c)Difference in borrowing and external and internal resources.
(d)Capital expenditure on items of public construction, public enterprises and public borrowings.
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Class 12Government Budget and the Economy— NCERT Economics, Chapter 5. The government budget — the Annual Financial Statement required by Article 112 — lists estimated receipts and expenditure for the financial year (1 April–31 March). It…
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