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    Types of Union Budget

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    Ayesha Fathima
    The document discusses the different types of union budgets in India: 1) Balanced budget where expenditures equal revenues. 2) Surplus budget where revenues exceed expenditures. 3) Deficit budget where expenditures are higher than revenues. 4) Zero-based budget where all expenses must be justified each period regardless of past budgets. 5) Fiscal budget which is a shortfall in government income compared to spending. 6) Revenue budget consisting of tax and non-tax income and revenue expenditures. 7) Expenditure budget showing ministry budgets and capital vs non-capital spending. 8) Capital budget including long-term expenditures and receipts like loans.

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    Types of Union Budget

    Uploaded by

    Ayesha Fathima
    44 views15 pages
    The document discusses the different types of union budgets in India: 1) Balanced budget where expenditures equal revenues. 2) Surplus budget where revenues exceed expenditures. 3) Deficit budget where expenditures are higher than revenues. 4) Zero-based budget where all expenses must be justified each period regardless of past budgets. 5) Fiscal budget which is a shortfall in government income compared to spending. 6) Revenue budget consisting of tax and non-tax income and revenue expenditures. 7) Expenditure budget showing ministry budgets and capital vs non-capital spending. 8) Capital budget including long-term expenditures and receipts like loans.

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    TYPES OF UNION BUDGET

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    The document discusses the different types of union budgets in India: 1) Balanced budget where expenditures equal revenues. 2) Surplus budget where revenues exceed expenditures. 3) Deficit budget where expenditures are higher than revenues. 4) Zero-based budget where all expenses must be justified each period regardless of past budgets. 5) Fiscal budget which is a shortfall in government income compared to spending. 6) Revenue budget consisting of tax and non-tax income and revenue expenditures. 7) Expenditure budget showing ministry budgets and capital vs non-capital spending. 8) Capital budget including long-term expenditures and receipts like loans.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    44 views15 pages

    Types of Union Budget

    Uploaded by

    Ayesha Fathima
    The document discusses the different types of union budgets in India: 1) Balanced budget where expenditures equal revenues. 2) Surplus budget where revenues exceed expenditures. 3) Deficit budget where expenditures are higher than revenues. 4) Zero-based budget where all expenses must be justified each period regardless of past budgets. 5) Fiscal budget which is a shortfall in government income compared to spending. 6) Revenue budget consisting of tax and non-tax income and revenue expenditures. 7) Expenditure budget showing ministry budgets and capital vs non-capital spending. 8) Capital budget including long-term expenditures and receipts like loans.

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    You are on page 1of 15

    TYPES OF UNION

    BUDGET

    - M.PRANEETH
    UNION BUDGET

    According to Article 112 of the Indian


    Constitution, the Union Budget of a year,
    also referred to as the annual financial
    statement, is a statement of the estimated
    receipts and expenditure of the
    government for that particular year.
    PREPARATION OF UNION BUDGET

    The Ministry of Finance


    It is prepared by the ministry of finance in
    consultation with Niti Aayog and other
    concerned ministries. The budget division of
    the department of economic affairs (DEA) in
    the finance ministry is the nodal body
    responsible for producing the budget.
    BALANCE
    FISCAL DEFICIT
    D
    BUGET BUDGET
    BUDGET

    EXPENDITURE REVENUE
    BUGET BUGET
    TYPES OF
    UNION
    BUDGET ZERO
    SURPLUS BASED
    BUGET BUGET

    VOTE ON
    INTERIM ACCOUNT CAPITAL
    BUGET BUGET BUGET
    1. BALANCED BUDGET

    Government’s budget is assumed to be balanced where anticipated


    expenditure is equal to the expected recipients in a financial year. It brings
    economic stability in a country by cutting down wasteful expenses. This
    can be expressed symbolically like,

    Balanced Budget = (Assumed collected revenues = Assumed


    expenditure )
    2. SURPLUS BUDGET

    A Surplus budget occurs when the estimated


    revenues exceed the expected expenditure. In this
    case, imposed taxes surpass the expenses. It
    means that the government is taking more money
    under its control which leads to fall in prices.

    Budget surplus =  Government's total income –


    Government's total expenditure.
    3. DEFICIT BUDGET

    A budget is in deficit if the expenditure of the


    government is higher than that revenue generated in
    a fiscal year. Symbolically,

    Deficit budget = estimated expenditure >


    estimated revenues
    4. ZERO BASED BUDGET

    Zero-based budget (ZBB) is a method of budgeting


    in which all expenses must be justified for each
    new period. ... The budgets are then built around
    what is needed for the upcoming period, regardless
    of whether each budget is higher or lower than the
    previous one.
    5. FISCAL BUDGET

    A fiscal deficit is a shortfall in a government's


    income compared with its spending. The
    government that has a fiscal deficit is spending
    beyond its means. A fiscal deficit is calculated as a
    percentage of gross domestic product (GDP), or
    simply as total dollars spent in excess of income.
    6. REVENUE BUDGET

    The Revenue Budget consists of the Government


    of India's revenue receipts and the expenditure
    that is met using said revenue. ... Revenue receipts
    can be further classified into tax revenue and non-tax
    revenue. Income tax, corporate tax, excise, customs
    and other duties make up the tax revenues.
      7. EXPENDITURE BUDGET

    Expenditure Budget shows the revenue and capital disbursements of various ministries/departments and presents the estimates in respect of each under 'Plan'
    and 'Non-Plan'. Description: It gives a detailed analysis of various types of expenditure and broad reasons for the variations in estimates.
    8. CAPITAL BUDGET
    Capital budget, whose components are of a long-term nature,
    consists of capital expenditure and capital receipts. Some of
    the primary sources of government receipts include loans
    from citizens, Reserve Bank of India (RBI) and foreign
    governments. Capital expenditure, on the other hand,
    comprises of costs incurred on development and maintenance
    of equipment, machinery, health facilities, building,
    education, etc. When the government's expenditure is greater
    than the total revenue collected, a state of fiscal deficit occurs.
    9. VOTE ON ACCOUNT BUDGET

    A vote on account, as defined by Article 116 of the


    Indian Constitution, is a grant in advance for the
    central government to meet short-term
    expenditure needs from the Consolidated Fund of
    India, generally lasting for a few months till the new
    financial year kicks in.
      10. INTERIM BUDGET

    The Interim Budget contains detailed documentation of every expense to be incurred and every rupee to earned through taxes in the coming few months until the new
    government comes to power.
    THANK YOU

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