What is Balanced Budget Amendment?

Important banking qna for banking aspirants, which is helpful in banking exam.

Created On: Apr 29, 2015 12:30 IST
Modified On: Apr 29, 2015 17:46 IST

What is Balanced Budget Amendment?

  • Balanced Budget Amendment is a constitution rule explaining that the government cannot spend more that its income.
  • This Balanced Budget Amendment has shown negative impacts on overall development of economy, which led to severe economic turn downs.
  • It requires a balance between the projected receipts and expenditures of the government.
  • Thus, neither a budget deficit nor a budget surplus exists ("the accounts balance").

 

Comment ()

Related Categories

Post Comment

6 + 8 =
Post

Comments