Public Expenditure — Chapter Summary
ICSE · Class 10 · Economics
Summary of Public Expenditure for ICSE Class 10 Economics. Key concepts: Expenses incurred by Central, The main objectives are and Current expenditure.
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Public expenditure is the spending made by public authorities to satisfy common wants and to support the welfare of society. It holds the same importance in public finance as consumption holds in economics. Government spending is used for administration, defence, social welfare, economic development
Key Concepts
Expenses incurred by Central Government
Expenses incurred by Central Government, State Government, and Local bodies to satisfy common wants of people. It is not only a financial activity but
The main objectives are internal peace
The main objectives are internal peace, defence, official expenditure, economic development, economic stability, social welfare, and fair distribution
Current expenditure on administration
Current expenditure on administration, defence, public commercial undertakings such as railways, post and telegraphs, and grant-in-aid to states. It d
Expenditure on acquisition of assets
Expenditure on acquisition of assets, land and buildings, machinery, equipment, and loans and advances granted by Central Government to State and Unio
Expenditure incurred on economic and social
Expenditure incurred on economic and social development of the country, such as transport and communication. Expenditure on education, research, and h
Learning Objectives
- Understand the meaning of public expenditure and its place in public finance
- Identify the main objectives of public expenditure
- Distinguish between revenue and capital expenditure
- Differentiate developmental and non-developmental expenditure
- Differentiate productive and unproductive expenditure
Frequently Asked Questions
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Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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