(a)An excess of governments’ current expenditure over its current revenue
(b)An excess of government expenditures minus borrowings other than those from the RBI
(c)An excess of government’s total expenditure over its total revenue
(d)An excess of government revenue over expenditure
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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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