Indian History

Types of Budget

Budgets are of three types:
1.Surplus Budget
2.Deficit Budget and
3.Balanced Budget.
If the budget shows excess income as compared to expenditure, it is called Surplus budget. If the expenditure is more than the income, it is called Deficit budget. If both income and expenditure are the same, it is called Balanced budget. In developing countries like India, the governments normally present deficit budget and try to achieve economic Progress.