After reading this article you will learn about:- 1. Meaning and Definition of Budget 2. Features of a Budget 3. Canons 4. Classification. Meaning and Definition of Budget: The word "Budget" as applied to public finance was traced by Cannan to an anonymous pamphlet, enlilled. The Budget Opened, attacking the policy of Walpole while Chancellor of the Exchequer and likening [...]
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 [...]
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 [...]