We stated that apart from the private sector, there is the government which plays a very important role. A quick note: Subscribe to our website to get answers to your curriculum questions. Aug 11, 2020 - Government budget and it's objectives(Class 12,CBSE,Macroeconomics) Commerce Video | EduRev is made by best teachers of Commerce. Ans: It is an annual statement of the […] The Government Budget. Download NCERT Class 12 Economics Introductory Macroeconomics Government Budget and The Economy NCERT Book and other CBSE KVS Economics latest books free in pdf format chapter wise, We introduced the government in chapter one as denoting the state. Reallocation of Resources 2. Our Class 12 Macroeconomics Chapter 5 Notes will help you to revise the critical topics under this chapter such as budget, its main objectives; budget expenditure etc. ADVERTISEMENTS: Some of the important objectives of government budget are as follows: 1. Government Budget and the Economy Class 12 - Revision Notes. Objective of the Government Budget The objective that are pursued by the government through the budget are-I. Redistribution of income is one of the important objectives of government budget. The government budget is an annual statement showing item wise estimates of receipts and expenditure of the government during a financial year. We at BYJU’S provide Sandeep Garg economics class 12 Solutions to give comprehensive insight about the subject to the students. Learn about Objectives of Government Budget topic at Vedantu. UNIT IX: GOVERNMENT BUDGET AND THE ECONOMY KEY CONCEPTS: Meaning of the Budget Objectives of the Budget Components of the Budget Budget Receipts Budget Expenditure Balanced, Surplus and Deficit Budgets Types of Deficits GOVERNMENT BUDGET – A FLOW CHART 1 MARK QUESTIONS AND ANSWERS Define a Budget. Let’s understand the concept of the government budget in detail. Economic Growth and 6. Read more about Objectives of Government Budget … Reducing inequalities in income and wealth 3. Economic Stability 4. CBSE 2019 Class 12th Exam is approaching and candidates will have to make the best use of the time available towards the last stage of your CBSE Class 12th Economics Preparation. This is done through taxation and expenditure policy. Government budget is an annual financial statement of estimated receipts and expenditure of the government during a fiscal year, as recorded in Article 112 of the Indian Constitution. 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. Chapter-8 Government Budget and the Economy Introduction This is a descriptive chapter on government budget of Indian economy, wherein its objectives, importance, types, components, budget deficits and its types (Revenue, Fiscal, Primary Deficit) and their implications are studied. To help you with that, below we have provided the Notes of 12 Economics for topic Macroeconomics – Government Budget and Economy. The government through its budgetary policy attempts to promote fair and right distribution of income in an economy. Meaning of Government Budget:-A government budget is an annual statement of the estimated receipts and estimated expenditure of the government during a fiscal year. Management of Public Enterprises 5. Government prepares the budget for fulfilling certain objectives. Reducing regional disparities. Download CBSE Class 12 Economics Government Budget and The Economy MCQs in pdf, Economics chapter wise Multiple Choice Questions free, Question: In the context of government budget, which of the following statements is correct ?a) Budget is a statement of expected annual receipts and expenditure is correct?b) It is a detail of actual receipts and expenditures of the Government Budget And The Economy - Government Budget - A government budget is a statement showing item wise estimated receipts and estimated expenditures under various heads during a fiscal year which runs from April 1 to March 31.