Ans. The types of budgets are as follows:
1. Balanced Budget : - Balanced budget is a situation, in
which estimated revenue of the government during the year is equal to its
anticipated expenditure.
Government's
estimated Revenue = Government's proposed Expenditure.
For individuals and
families, it is always advisable to have a balanced budget.
2. Unbalanced Budget : - The budget in which income & expenditure are
not equal to each other is known as Unbalanced Budget.
Unbalanced budget is
of two types they are Surplus Budget, Deficit Budget.
A. Surplus Budget
The budget is a
surplus budget when the estimated revenues of the year are greater than
anticipated expenditures.
Government expected
revenue > Government proposed Expenditure.
B. Deficit Budget
Deficit budget is one
where the estimated government expenditure is more than expected revenue.
Government's
estimated Revenue < Government's proposed Expenditure.
