Budget expenditure refers to the overall expenditure done by the government in the economy during a given period of financial year. It has two components 

Capital receipts are all those money receipts of the government that either creates a liability for the government or reduce an asset of the government. Therefore, capital receipts includes borrowings, disinvestment and recovery of loans. 

Direct tax are the tax where the final burden of the tax is borne by the person on whom it is imposed. These taxes are directly paid by the person on whom it is imposed to the government. For example- income tax, corporate tax etc. 

Non-tax receipts of the government are all those revenue receipts of the government that is not a part of tax receipts of the government be it a direct tax or indirect tax. For example - fees, fines, escheats, gifts and grants, interest and dividends on investment, etc. 

Non tax receipts of the government are all those revenue receipts of the government that is not a part of tax receipts of the government be it is direct tax or indirect tax. For example - fees, fines, escheats, etc. 

Capital receipts are all those money receipts of the government that either creates a liability for the government or reduce an asset of the government. Therefore, capital receipts include small savings, market loans and provident funds.

Non planned expenditure are those government expenditure that are incurred on the non planned projects of the government. All the expenditure incurred by the government on projects after five years of plans are considered as non planned expenditure. 

Plan expenditure refers to the expenditure that the government spends upon the planned programs. These plans usually have a five years duration and any expenditure above this period is not considered as planned expenditure. 

Revenue expenditure are all such types of government expenditure that does not create any assets for the government or does not cause any reduction in the liability of the government. These expenditures are mainly conducted to provide smooth functioning of government activities and related services. 

Capital expenditure are all those expenditure of the government that either creates an asset for the government or reduce the liability of the government. For example - Expenditure on land and building, purchase of shares etc. Therefore, these expenditure are usually development as it contributes to the social and economic welfare of the country. 

There are two types of budget in general. 

1. Balanced Budget: In this type of budget, government expenditure is equal to government revenue. 

2. Unbalanced budget: In this type of budget, government expenditure is not equal to government revenue. 

 (i) Surplus Budget: In this type of budget, government revenue is greater than government expenditure due to which there is a surplus in the budget. 

 (ii) Deficit budget: In this type of budget, government expenditure is greater than government revenue due to which there is a deficit in the budget. 

Budget is an statement of the estimates of the government receipts and government expenditure during the period of the financial year. Balanced Budget is the type of budget where government expenditure is equal to government revenue.

False. 

In India, the Union Budget is prepared by the Department of Economic Affairs of Ministry of Finance. The budget has four stages viz., 

The first step in the budgeting process is having a written strategic plan. This ensures that organizational resources are used to support the strategy and development of the organization. It means budgeting toward the vision

The classical economist advocated and proposed the concept of balanced where according to them, a balanced budget refers to a budget where the government expenditure and government revenue are equal and there is no surplus budget or deficit budget in the economy.

Unbalanced budget is the type of budget where government expenditure is not equal to government revenue. These includes 

 (i) Surplus Budget: In this type of budget, government revenue is greater than government expenditure due to which there is a surplus in the budget. 

 (ii) Deficit budget: In this type of budget, government expenditure is greater than government revenue due to which there is a deficit in the budget. 

Surplus Budget is the type of budget where the expected government revenue is greater than expected government expenditure due to which there is a surplus in the budget. Surplus budget is regarded as a positive indicator for the economy. 

Revenue budget are the money receipts or payments that does not lead to decrease or increase in the value of asset and liability of the government.  It usually includes the tax and non tax receipts of the government and the public services expenditure of the government. 

Surplus Budget is the type of budget where the expected government revenue is greater than expected government expenditure due to which there is a surplus in the budget. Surplus budget is regarded as a positive indicator for the economy as it can be used during inflation through increased revenue that can soak liquidity from the economy and decrease the purchasing power. 

Deficit budget is the type of budget where the estimated government expenditure is greater than the estimated government revenue due to which there is a deficit in the budget. Deficit budget is usually regarded as a negative indicator for the economy as it increases the liability of the government or decreases the reserves of the government. 

Capital budget are the money receipts or payments that lead to decrease or increase in the value of asset and liability of the government. It is divided into two heads 

Deficit budget is the type of budget where the estimated government expenditure is greater than the estimated government revenue due to which there is a deficit in the budget. Deficit budget is usually regarded as a negative indicator for the economy but it is regarded to be useful at the time of depression in the economy as it results in reduced taxes or increased public expenditure that resolves the situation of the depressed economy. 

Budget is a statement of the estimates of the government receipts and government expenditure during the period of the financial year. There are two main component of a budget: 

1. Revenue budget - These are the money receipts or payments that does not lead to decrease or increase in the value of asset and liability of the government. 

2. Capital budget - These are the money receipts or payments that lead to decrease or increase in the value of asset and liability of the government. 

Revenue receipts refers to all such types of money receipts that do not create any liability for the government or does not reduce any asset of the government. These basically includes tax and non-tax revenue received by the government from the general public. 

Tax revenue are the money receipts of the government by the general public for the basic services which the public is availing from the government. These receipts are recurring in nature and it is an obligation for all the civilians of a country to pay tax. 

False. 

External debt is the portion of a country's debt that was borrowed from foreign lenders, including commercial banks, governments, or international financial institutions. These loans, including interest, must usually be paid in the currency in which the loan was made.

The word budget is derived from a french word 'bougette' which means 'little bag' from where the budget concept was derived and after years of development the budget for every single country was started getting prepared. 

According to Article 112 of the Constitution of India, the central government has to prepare the annual financial statement of the country following the standard format and mentioning the required details adhering to the budget of the country. 

Economic policies refers to those policies which are required for efficient functioning of an economy in proper law and order. These policies are framed and implemented by the government of the country in order to run the economy effectively. Therefore, the ultimate responsibility of framing and executing economic policies is that of the government of the country.