Sandeep Garg Class 12 Macroeconomics Solutions Chapter 10: Government Budget and the Economy are explained by the expert Economic teachers from the latest edition of Sandeep Garg Macroeconomic Class 12 textbook solutions. (b) Indirect Tax Expected expense > Expected revenue. Distinguish between fiscal deficit and revenue deficit. When the revenue receipts are less than the revenue expenditures in the government budget, this shortfall of receipts is known as revenue deficit. Implications of revenue deficit are as follows: Jan 09, 2021 - Notes : Government Budget & the Economy Class 12 Notes | EduRev is made by best teachers of Class 12. The difference between fiscal deficit and interest payment is known as primary deficit. 9. Currently only available for. Primary Deficit = Fiscal Deficit – Interest Payments, 3. (ii) The revenue deficit is managed by borrowing or disinvestment. (i) Revenue deficit Free CBSE Important Questions Link; 1 Mark Questions Download: 3-4 Marks Questions … 1. This four-day course covers the legal and management framework of budget preparation and … Ans. So, go ahead and check the Important Notes for Class 12 Economics : Macroeconomics – Government Budget and Economy. There are mainly two types of budget in India: Union and State budget. Revenue Deficit = Revenue Expenditure – Revenue Receipts Fiscal deficit is the difference between the government’s total expenditure and total receipts excluding borrowings. = 80-[47+ 10] = 80-57 1. 4 Marks Questions. What are its implications? (i)  Economic growth 23 Arab (All India 2010) (ii) Proper allocation of resources Budgetary Deficit When a government spends more than it collects by way of revenue, it incurs a budgetary deficit, i.e. Objective of the Government Budget The objective that are pursued by the government through the budget are-I. 8. (ii) Fiscal Deficit = [Revenue Expenditure + Capital Expenditure] – [Revenue Receipt This document is highly rated by Class 12 students and has been viewed 2927 times. (i) High revenue deficit shows accumulated and recurring expenses of government such as expenses on defence, payment of interest, etc. CBSE Class 12. Explain the meaning and implications of revenue deficit. (i) High revenue deficit shows accumulated and recurring expenses of government such as expenses on defence, payment of interest, etc. Class 12 Economics: Macroeconomics – Government Budget and Economy – Get here the Notes for Class 12 Economics : Macroeconomics – Government Budget and Economy. (i) Indicates how much government borrowing is going to meet expenses other than interest payments. These solutions for Government Budget And The Economy are extremely popular among Class 12 Commerce students for Economics Government Budget And The Economy Solutions come handy for quickly completing your homework and preparing for exams. 25 Arab, 11. Ans. We also provide customized projects , Contact … Get free Key Notes, MCQs, Tests, Sample Papers, NCERT Solutions, NCERT Solutions, Important Questions for 12. What is a Government Budget. Important Points of Government Budget • Budget is prepared by government at all level i.e, central government state government and local government prepare its respective annual budget . So, Fiscal Deficit = Rs. 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