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Types of Deficits
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This lesson explains about the types of Deficits of Govt.

Tanya Bhatia is teaching live on Unacademy Plus

Tanya Bhatia
Topper in 12th Cbse, JRF holder, Assistant Professor in Satyawati DU Expert in NET for Economics.Teaching is work of heart❤❤❤

U
Unacademy user
sir please calculas ka pura course advance exam hone ke bad banadijiye. please sir
Ashish Bajpai
2 years ago
will definitely cover entire syllabus
Rangnath Gote
2 years ago
Thanku very much sir. thanku
  1. PUBLIC BUDGET BY TANYA BHATIA


  2. BUDGET A Budget is the statement of the financial plan of a government .lt indicates the revenue and expenditure of the last completed financial year, the probable revenue and expenditure estimates for the current year,


  3. REVENUE RECEIPTS Revenue receipts refer to those receipts which neither create any liability nor cause any reduction in the assets of the government. Two sources of Revenue Receipts- . Tax Revenue 2. Non-Tax Revenue


  4. TAX REVENUE 1. DIRECTTAXES-EXAMPLE INCOMETAX WEALTH TAX,ETC Z.INDIRECTTAXES -EXAMPLECUSTOM DUTY, SERVICETAXETC.


  5. NON - TAX REVENUE I. Interest .Profits and Dividend 3. Fees 4. License fees 5. Fines and Penalties 6. Escheats 7. Gifnts and Grants


  6. CAPITAL RECEIPTS 1.Either creates a liability .Reduction in assets


  7. CAPITAL RECEIPTS .BORROWINGS L.RECOVERY OF LOANS 3 OTHER RECEIPTS


  8. REVENUE EXPENDITURE REVENUE EXPENDITURE REFERS TO THE EXPENDITURE WHICH NEITHER CREATES ANY ASSET NOR CAUSES REDUCTION IN ANY LIABILITY OF THE GOVERNMENT EXAMPLES: PAYMENT OF SALARIES, PENSIONS, INTERESTS, EXPENDITURE ON ADMINISTRATIVE SENDEES, DEFENCE SERVICES, HEALTH SERVICES, GRANTS TO STATE, ETC.


  9. CAPITAL EXPENDITURE CAPITAL EXPENDITURE REFERS TO THE EXPENDITURE WHICH EITHER CREATES AN ASSET OR CAUSES A REDUCTION IN THE LIABILITIES OF THE GOVERNMENT EKAMPLES: LOAN TO STATES AND UNION TERRITORIES, EXPENDITURE ON BUILDING ROADS, FLYOVERS. FACTORIES, PURCHASE OF MACHINERY ETC, REPAYMENT OF BORROWINGS, ETC.


  10. TYPES OF DEFICITS BUDGET DEFICIT TOTAL EXPENDITURE-TOTAL RECEIPTS REVENUE DEFICIT= REVENUE EXPENDITURE-REVENUE RECEIPTS FISCAL DEFICIT TOTAL EXPENDITURE TOTAL RECEIPTS EXCEPT BORROWINGS PRIMARY DEFICIT FISCAL DEFICIT-INTEREST PAYMENTS EFFECTIVE REVENUE DEFICIT-= REVENUE DEFICIT-GRANTS FOR THE CREATION OF CAPITAL ASSETS MONETIZED FISCAL DEFICIT THAT PART OF THE FISCAL DEFICIT COVERED BY BORROWING FROM THE RBI.