Monday, February 6th, 2023

What is Balanced Budget?

Photo: CANVA Important information related to balanced budget

Balanced Budget: There are only a few days left for the presentation of the country’s general budget, while in any economy, the methods of raising money and spending it better, etc. are mentioned in the budget. The financial condition of any country remains fine only through the budget, where the details of the entire income and expenditure of the government for one year are in this budget. Explain that this annual statement is presented by the Finance Minister of the Central Government in the Lok Sabha, which is also known as the Union Budget. At the same time, it has been divided into several categories, one of which is the balanced budget, today we are going to give you important information about it.

What is Balanced Budget?

It is considered an ideal budget, which is a bit difficult to put into practice. On the other hand, in the Balanced Budget, allocation is made to different sectors in equal proportion, along with this, the gap between expenditure and receipt is limited. In other words, when the figures of estimated income and total estimated expenditure of the government in a financial year are equal, then it is called a balanced budget.

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Benefits of balanced budget

This type of budget is seen as a budget that spreads as much as the sheet. At the same time, every economist expects this type of budget, because it helps to ensure that the government will spend according to its income, due to which the country will not have to suffer economic loss. Along with this, economic stability is maintained only through a balanced budget, as well as the government avoids unnecessary expenses.

These are the disadvantages of balanced budget

Balanced budget does not work in the era of economic recession, as well as it does not get rid of the problem like unemployment because it is bound in limited areas. Along with this, this type of budget also has a profound effect on the economic growth of developing countries, where the government withdraws from public welfare schemes due to economic expenditure.

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