Chapter 5 of Class XII Economics (Introductory Macroeconomics) covers the topic of “Government Budget and the Economy.” This chapter delves into the role of government budgets in managing the economy, understanding fiscal policy, and its impact on various economic variables such as income, employment, inflation, and economic growth. It discusses the components of government budget, including revenue receipts, capital receipts, revenue expenditure, and capital expenditure. Additionally, the chapter explores the objectives of government budgeting, types of government budgets, fiscal deficits, and their implications on the economy.
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Notes Class XII Economics (Introductory Macroeconomics) Chapter 5 Government Budget And The Economy
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Chapter 5 of Class XII Economics (Introductory Macroeconomics) covers the topic of “Government Budget and the Economy.” This chapter delves into the role of government budgets in managing the economy, understanding fiscal policy, and its impact on various economic variables such as income, employment, inflation, and economic growth.
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