state gov Kerala PSC Degree (Common Preliminary Examination) Mock Test Series 2025 General Knowledge Economy Money and Banking
What is the meaning of balanced budget?
I) A budget in which gross public expenditure is equal to gross income (Revenue receipts).
II) A budget in which Revenue loss is zero.
1
Statement I is correct.
2
Statement II is correct.
3
Both the statements are correct.
4
Both the statements are wrong.