An Unbalanced Budget is that budget in which receipts and expenditure of the government are not equal. This may be a situation of : (a) Surplus Budget, or (b) Deficit Budget.
(a) Surplus Budget :
Surplus budget is a budget in which the government receipts are greater than the government expenditures.
Surplus Budget : Estimated Government Receipts > Estimated Government Expenditures.
(b) Deficit Budget :
Deficit budget is a budget in which the government expenditures are the greater than the Government Receipts.
Deficit Budget : Estimated Government Expenditures > Estimated Government Receipts.
