| Question | 5. What is a government budget? Name two sources each of non-tax revenue receipts and capital receipts. |
| Class | Class 12 |
| Subject | Economics (Macroeconomics) |
| Category | Class 12 Economics Solutions Sandeep Garg |
Sandeep Garg Macroeconomics Class 12 Solutions Circular flow of Income – Short Questions – Q.5 What is a government budget? Name two sources each of non-tax revenue receipts and capital receipts.
Solution:-
Government Budget is a yearly statement showing estimated receipts as well as estimated expenditures of the government for a financial/Fiscal year.
Two sources of non tax revenue receipts are fines and interest received by the government.
Two sources of capital receipts are sale of government land and borrowings by the government.
Short Questions – Sandeep Garg Macroeconomics Class 12 Solutions Government budget and the Economy
- State three objectives of a government budget
- Explain objective of stability of prices of government budget
- How can a government budget help in reducing inequalities reducing inequalities of income? Explain.
- Explain the ‘allocation of resources’ objective of Government budget.
- What is a government budget? Name two sources each of non-tax revenue receipts and capital Receipts.
- What is a government budget? Give the meaning of: (a) Revenue deficit; (b) Fiscal deficit.
- What are the two broad divisions of receipts of the government budget? Name two sources of each kind of receipt.
- Define tax revenue. What are the two kinds of tax revenues? Give two examples of each.
- Distinguish between Direct Tax and Indirect Tax
- Explain with the help of suitable examples the basis of classifying taxes into direct and indirect taxes
- Distinguish between revenue receipts and capital receipts
- Give meanings of Capital receipts and Revenue receipts with an example of each.