Chapter 5Chapter 5 - NCERT

Chapter 5 Chapter 5 We introduced the government in Chapter one as denotingthe state. We stated that apart from the private sector,there is the government which plays a very important economy in which there is both the private sector andthe government is known as a mixed economy. There aremany ways in which the government influences economiclife. In this Chapter , we will limit ourselves to the functionswhich are carried on through the government Chapter proceeds as follows. In section wepresent the components of the government budget to bringout the sources of government revenue and avenues ofgovernment spending.

Revenue Expenditure is expenditure incurred for purposes other than the creation of physical or financial assets of the central government. It relates to those expenses incurred for the normal functioning of the government departments and various services, interest payments on debt incurred by the government, and grants given to state governments

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  Government, Expenditure

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