The definition of the revenue expenditure is that it must not create any productive asset. However, this creates a problem in accounts. There are several grants which the...
If total Revenue receipts are more than total revenue expenditure, it is called revenue surplus. If the total revenue receipts are less than total revenue expenditures, it is...
While the Revenue Receipts are those incomes of the Government which don’t create additional liability, the Revenue Expenditures are those expenditures which don’t create any productive assets. The...
The term “Revenue Receipt” is made up of two words revenue and receipts. Any income that does not generate a liability is revenue. For example, if the Government...
Internal debt is that part of the total debt that is owed to lenders within the country. It is the money the government borrows from its own citizens....
The term Revenue deficit and fiscal deficit are being used in the Government of India Budget since the fiscal year 1997-98. Fiscal deficit is the difference between total...
After the budget is presented in Parliament and discussions over it are completed, the members get an opportunity to move cut motions to reduce the amount of demand....
The budget shows the estimated receipts and expenditure of the upcoming Financial Year. After the budget is presented to the house (parliament), the government needs its approval to...
The Appropriation Bill and Finance Bill are presented in the month of February, and they take their own time to become act. In order to keep the Government...
An Appropriation Act in India is an act of Parliament which allows the withdrawal of funds from Consolidated Fund of India or Consolidated Funds of States (in case...
