Today we are discussing about banking awareness related to budgetary concept. It will be very useful for upcoming IBPS, SBI, RBI, UPSC, SSC, NICL etc exams.
In banking sector BUDGET is a correlated terms. There are some Budget related terms which are describe below;Budget Concept Related to Banking Awareness
Budget :
The budget is an annual financial statement of India’s finance about expenditure and receipts of the government. The budget calculate from 1st April to 30th March. The budget some times calls Money Bill. It is presented by Finance Ministry of India in the Lok Sabha after sanctioned by the Parliament.
Revenue Budget :Revenue Budget means in Indian Financial system those money helps in economic growth and development of various business and organization. Direct taxes and indirect taxes both come under revenue budget. It is basically profit making activities in finance.
Capital Budget :
Capital Budget means such types of money those are long term related to the government. It is basically related to the profit making policy of the organization. It also covers capital receipts and capital expenditure.
Deficit:
Deficit is a important and correlated terms of Indian financial system. It is such a amount which is difference between capital and total expenditure. GDP rate if India depends on this deficit system.
Deficit may be classified in 3 types;
1. Budgetary Deficit
2. Fiscal Deficit
3. Current Account Deficit
1. Budgetary Deficit:
Budgetary Deficit means excess of money in public related expenditures and receipts. It also called National Deficit.
2. Fiscal Deficit:
Fiscal Deficit in financial system basically it denote positive event. Fiscal Deficit means a gap between total expenditure and total receipts.
3. Current Account Deficit:
It also a financial measurement in a country. It can be defined by country’s import are grater than country’s export goods. It also may be called that it is basic cause of fiscal deficit.
Zero-Based Budgeting :
It is a naval technique to guard against wastage in public expenditure. It is based on philosophical when expenditure at the time of review is Zero ( 0).
Overall all above budgetary terms are correlated with banking industry in our country. India and our country’s financial system is also controlled by these terms.
That's all! We hope it will be helpful for your upcoming competitive exams. Don't forget to share whether you have liked or not.
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