CBSE Class 12-commerce Macroeconomics Government Budget and its Measures
Learn about the Government Budget and Its Measures from the CBSE Class 12 Commerce Economics chapter The Government Budget and the Economy by referring to our revision notes, sample papers, past year papers etc. at TopperLearning.
The Revenue Budget shows the current receipts of the government and the expenditure that can be met from these receipts. Revenue Receipts: Revenue receipts are divided into tax and non-tax revenues. Tax revenues consist of the proceeds of taxes and the other duties levied by the central government. Tax revenues, an important component of revenue receipts, comprise direct taxes – which fall directly on individuals (personal income tax) and firms (corporation tax), and indirect taxes like excise taxes (duties levied on goods produced within the country), customs duties (taxes imposed on goods imported into and exported out of India) and service tax.
The Government: Budget and the EconomyThe Government: Budget and the Economy, Government Budget and its Objective
- What are public goods and private goods?
- What are the types of budget?
- What are the objectives of government budget?
- Define revenue budget.
- Define capital budget.
- Define tax.
- Mention any two examples of each item. i. Non-tax revenue ii. Direct tax
- What is plan and non-plan expenditure?
- Subsidies are treated as revenue expenditure. Give reason.
- What is fiscal discipline?
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