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What is Balanced Budget Amendment?

Apr 29, 2015 12:30 IST

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

    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").

     

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