This article throws light upon the six main concepts of government deficits. The concepts are: 1. Budgetary Deficit (BD) 2. Monetized Fiscal Deficit (MFD) 3. Gross Fiscal Deficit (GFD) 4. Net Fiscal Deficit (NFD) 5. Gross Primary Deficit (GPD) 6. Net Primary Deficit (NPD). Government Deficit: Concept # 1. Budgetary Deficit: In India, the budget deficit is measured as the [...]
This article throws light upon the three steps involved in the framing of budget. The steps are: 1. Preparation of the Budget 2. Legislation of the Budget 3. Execution of the Budget. Framing of Budget: Step # 1. Preparation of the Budget: The Budget is prepared usually for a year. The selection of the financial year and fixing a date [...]
In this article we will discuss about Budget:- 1. Definition of Budget 2. Purposes of a Budget 3. Elements 4. Steps. Definition of Budget: A Budget is a plan expressed in quantitative usually monetary terms, covering a specified period of time, usually one year. Many companies refer to their annual budget as a profit plan since it shows the planned [...]