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FAQs
What are the 3 types of budgets? Check Answer at BYJU’S? ›
The three types of annual Government budgets based on estimates are Surplus Budget, Balanced Budget, and Deficit Budget. When the revenues are equal to or greater than the expenses, then it is called a balanced budget.
What are the three types of budgets? ›According to the government, the budget is of three types:
- Balanced budget.
- Surplus budget.
- Deficit budget.
Any successful budget must connect three major elements – people, data and process. A breakdown in any of these areas can have a major impact on your results.
What are the 3 major components of the budget process? ›The federal budget comprises three primary components: revenues, discretionary spending, and direct spending.
What are the three formats of budgeting? ›Various budgeting models continue to be commonly used and fall predominantly into the following categories: (1) line-item, or "traditional," budgeting; (2) performance budgeting; (3) program budgeting; (4) zero-based budgeting; (5) site-based budgeting; and (6) outcome-focused budgeting.
How many types of budgets are there? ›Based on the estimates there are three types of Government budgets in India, they are, surplus budget, balanced budget, and deficit budget. You can read about the Union Budget 2021-22 Summary in the given link.