Arijit Basu Chowdhury is teaching live on Unacademy Plus
ECONOMICS Indian Fiscal System ARIJIT BASU CHOWDHURY Target WBCS(EXECUTIVE)
About Me Graduate in History from St.Paul's Cathedral Mission College, Kolkata Interests: Fitness , Current Affairs ,Burning Issues, Music, News Analysis You can follow me on UNACADEMY-https:llunacademy.com/luser/ArijitBasuChowdhury Life has two rules: 1) Never quit. 2) Always rememben Rule #1 . Rate , Review & Recommenc
Indian Fiscal System Non Plan Expenditure : It divided into revenue expenditure and capital Expenditure Under Revenue Expenditure : Interest payments , defense revenue expenditure, major subsidies (Food , Fertilizers) , interest and other subsides , debt relief to farmers , Police , salary , pension other general services ( Agriculture , industry power transport, communications, science) grants to states and union territories and grants to foreign government. Capital Expenditure includes such items as Loans to public enterprises , Loans to states and Uts and loans to foreign government Plans Expenditure : It includes 1. Central plans such as agriculture, rural development, irrigation and flood control, industry and minerals , transport. 2. Central assistance for plans of states of the states and union territories .
Indian Fiscal System Various Types of Budgets Surplus Budget If the receipts of governments are more than its expenditure, the o Balance Budgets : A balanced budget is one where the revenue equals the o Deficit budgets It occur when the overall expenditure of Governments exceed the Various types of Deficit govt. will be said to have a surplus budget. expenditure overall receipts o Budget Deficit Total Expenditure - Total Receipts Revenue Deficit: Revenue Expenditure Revenue receipts o Fiscal Deficit Fiscal deficit- Interest Payments o Primary Deficit: Fiscal deficit - Interest payments