Distinguish between:
1. Revenue budget and capital budget
Revenue budget
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Capital budget
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It consists of items that neither lead to a change in the assets nor change the liabilities of a government.
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It consists of items that lead either to a change in the assets or a change in the liabilities of a government.
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It consists of revenue receipts and revenue expenditure.
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It consists of the capital receipts and capital expenditure.
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It consists of revenue and expenditure that are incurred in day to day life.
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These include items which are long term in nature.
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