Question

What does a "state budget" typically include?

• A. Expenditure on public health and education only
• B. Revenue expenditure and current liabilities
• C. Long-term government debt and infrastructure projects
• D. Revenue receipts and capital receipts

Answer 1

Answer:

D. Revenue receipts and capital receipts

• A state budget includes a comprehensive account of both revenue receipts (money from taxes and non-tax sources) and capital receipts (money from borrowings and disinvestment), as well as details of expenditure.