Chapter 4- Government Budget 

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Macroeconomics

Economics

cbse

tsgrewal

NCERT

12th

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5 Terms

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February 1
The day Finance minister presents the annual budget of the government
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two aspects of Budgetary policy
revenue aspect and expenditure aspect
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2 ways in which GDP growth is achieved
(1) By making private investment (2) By inducing private investment expenditure (via tax rates and subsidies)
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What are the objectives of Government budget (7). Briefly explain them.

1. GDP growth
2. Allocation of resources
3. Provision of public goods
4. Redistribution of income and wealth
5. Balanced regional growth
6. Employment opportunities
7. Economic stability

(For explanation, see notes)
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Budget definition
Statement of estimated receipts and expenditure of government for one financial year to meet the twin objectives of growth and stability