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In this second part of the video, M K Yadav sir has tried to explain the basic concepts of Budget in the Indian economy. UPSC has been asking many questions related to the government budget in the preliminary exam for many years. Therefore, it is our duty to cover each and every aspect of the Indian Economy part for the prelims exam. You can also refer to the Budget Section of the Laxmikant polity book for the revision of the basic concepts covered in this economy video.
The concepts covered in this video are
1)Difference between revenue receipt and capital receipt.
2)Difference between revenue expenditure and capital expenditure.
3)Tax revenue and non-tax revenue.
4)Subsidies
5)Borrowing
6)Interest rate
7)Types of budget
8)Revenue deficit and fiscal deficit.
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