What do you mean by a balanced budget?

Correct option is B

The correct answer is (b) Expenditure equal to revenue.
· A balanced budget is a financial plan where a government's total expenditures are equal to its total revenue in a given fiscal year.
· This means that the government's income from various sources, such as taxes, fees, and other revenue streams, is enough to cover all its planned expenses.
· This equilibrium ensures that there is neither a budget deficit (expenditure exceeds revenue) nor a budget surplus (revenue exceeds expenditure), resulting in a balanced financial position.
Facts to remember:
· Types of Budgets:
· Balanced Budget: When revenues equal expenditures.
· Surplus Budget: When revenues exceed expenditures.
· Deficit Budget: When expenditures exceed revenues.
· The Finance Minister presents the budget in Parliament, typically on February 1.
· Article 112 - Annual Financial Statement:
· Article 202 - Annual Financial Statement (State Level)