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Consider the following statements.
1. A balanced budget is a budget when the government borrow only to invest, note to finance current spending
2. Gender budget allocates funds and responsibilities based on gender
Which of these statements is/are correct?
- a)1 Only
- b)2 Only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements. 1. A balanced budget is a budget w...
- Golden rule: The proposition that a government should borrow only to invest (i.e., plan expenditure in India) and not finance current spending (i.e., revenue expenditure in India) is known as the golden rule of public finance.
- Balanced Budget: A budget is said to be a balanced budget when total public sector spending equals total government income (revenue receipts) during the same period from taxes and charges for public services.
- Gender Budgeting: A general budget by the government which allocates funds and responsibilities based on gender is gender budgeting. It is done in an economy where socioeconomic disparities are chronic and visible on a sex basis (as in India).
Community Answer
Consider the following statements. 1. A balanced budget is a budget w...
Explanation:
Statement 1: A balanced budget is a budget when the government borrows only to invest, not to finance current spending.
A balanced budget refers to a budget in which the government's total revenue is equal to its total expenditure. In other words, it means that the government's income from taxes, fees, and other sources is sufficient to cover its expenses, including both current spending and investment.
The statement is incorrect because a balanced budget does not imply that the government borrows only to invest. In reality, governments often borrow to finance both current spending and investment. Borrowing to invest is considered a productive use of debt, as it can lead to long-term economic growth and development.
Statement 2: Gender budget allocates funds and responsibilities based on gender.
Gender budgeting is an approach that aims to promote gender equality in the allocation of public resources and the design of policies. It involves analyzing the impact of government budgets and policies on women and men, and ensuring that resources are allocated in a way that addresses gender disparities and promotes gender equality.
The statement is correct. Gender budgeting involves considering the different needs and priorities of women and men in budget formulation and resource allocation. It recognizes that women and men have different roles, responsibilities, and needs in society, and that budgetary decisions can either reinforce or challenge existing gender inequalities. By incorporating a gender perspective into budgeting, governments can ensure that public resources are used effectively to advance gender equality and empower women.
Conclusion:
Based on the explanations provided above, it can be concluded that statement 2 is correct while statement 1 is incorrect. Therefore, the correct answer is option 'B' - 2 only.
Statement 1: A balanced budget is a budget when the government borrows only to invest, not to finance current spending.
A balanced budget refers to a budget in which the government's total revenue is equal to its total expenditure. In other words, it means that the government's income from taxes, fees, and other sources is sufficient to cover its expenses, including both current spending and investment.
The statement is incorrect because a balanced budget does not imply that the government borrows only to invest. In reality, governments often borrow to finance both current spending and investment. Borrowing to invest is considered a productive use of debt, as it can lead to long-term economic growth and development.
Statement 2: Gender budget allocates funds and responsibilities based on gender.
Gender budgeting is an approach that aims to promote gender equality in the allocation of public resources and the design of policies. It involves analyzing the impact of government budgets and policies on women and men, and ensuring that resources are allocated in a way that addresses gender disparities and promotes gender equality.
The statement is correct. Gender budgeting involves considering the different needs and priorities of women and men in budget formulation and resource allocation. It recognizes that women and men have different roles, responsibilities, and needs in society, and that budgetary decisions can either reinforce or challenge existing gender inequalities. By incorporating a gender perspective into budgeting, governments can ensure that public resources are used effectively to advance gender equality and empower women.
Conclusion:
Based on the explanations provided above, it can be concluded that statement 2 is correct while statement 1 is incorrect. Therefore, the correct answer is option 'B' - 2 only.
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Consider the following statements. 1. A balanced budget is a budget when the government borrow only to invest, note to finance current spending2. Gender budget allocates funds and responsibilities based on genderWhich of these statements is/are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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