The Budget | Macroeconomics

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The Government BudgetMacroeconomics

The BudgetBy Amir Dora & Zar Saeed

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CONTENTS

What is Budget? What are types of Budget? Balanced Budget Surplus Budget Deficit Budget Pakistan Budget Parts of the Budget Reference

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What is Budget?A budget is an annual statement of income and expenditure of a government.

Infrastructure Education Health Care

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DIFICIT BUDGET:A Deficit budget occurs when a government's total expenditures are greater than total revenues

For Pakistan this year’s budget is deficit budget.

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SURPLUS BUDGET:Surplus budget occurs when government revenue exceeds its total expenditure.

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BALANCED BUDGET:A balanced budget occurs when the total sum of money a government collects in a year is equal to the amount it spends on goods

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PARTS OF THE BUDGETRevenue Budget: This part of the budget consists of tax revenues, non-tax revenues and other revenues and the expenditure to be met from these receipts. Tax=revenue consists of the proceeds of taxes levied by the government. It includes income tax, corporate tax, wealth tax, custom duties, surcharge, and other taxes.

Capital Budget: This part of the budget shows capital receipts and development payments of the government. The main form of capital receipts are loans raised from the public, borrowing central bank through the sales of treasury bonds ad bills, and loans received from foreign countries. Capital expenditure consists of those expenditure suggested to spend on road railways, port , water , gas, electricity, irrigation projects and long-term projects etc. Since these expenditure help In raising the rate of economic growth of the economy therefore they are called development expenditure.

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2013-14 Pakistan federal budget

The 2013-14 Pakistan federal budget is the federal budget of Pakistan for the fiscal year beginning from 1 July 2013 and ending on 30 June 2014. The budget was presented by Finance Minister Ishaq Dar on 12 June 2013 during a session of the National Assembly.

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Where Pakistan spends its money? Where Pakistan spends its money?

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References http://www.thenational.ae/news/world/south-asia/pakistan-printing-cash-as-

fast-as-it-can Principles of Macroeconomics by N Gregory Mankiw http://insidefinancialmarkets.com/pakistan-budget-2013-2014-salient-features-f

inance-minister-assertions-analyst-report/

https://en.wikipedia.org/ http://www.antiessays.com/free-essays/Budget-493835.html econstudents.weebly.com/uploads/8/7/4/4/8744298/budget.doc

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