Public Expenditure
ICSE · Class 10 · Economics
Flashcards for Public Expenditure — ICSE Class 10 Economics. Quick Q&A cards covering key concepts, definitions, and formulas.
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Explore the full setWhat is Public Expenditure? Define it with its purpose.
Answer
Public expenditure refers to the expenses incurred by the government (Central, State, and Local bodies) for the maintenance of government and to protect the welfare of society as a whole. It aims to s…
List any four main objectives of Public Expenditure.
Answer
1. Ensure internal peace and discipline 2. Protect the country from external enemies 3. Economic development through direct government participation 4. Economic stability during inflation or deflation…
What is Revenue Expenditure? Give two examples.
Answer
Revenue expenditure is current expenditure incurred on administration, defence, public health, education, and grants-in-aid to states. It does not result in creation of assets and is recurring in natu…
What is Capital Expenditure? How does it differ from Revenue Expenditure?
Answer
Capital expenditure includes expenditure on acquisition of assets, land, buildings, machinery, equipment, and loans to state governments. It is non-recurring and contributes to increased productive ca…
Distinguish between Developmental and Non-Developmental Expenditure with examples.
Answer
Developmental Expenditure: Incurred on economic and social development (transport, communication, education, health). Non-Developmental Expenditure: Does not promote economic development (police, defe…
What is the difference between Productive and Unproductive Expenditure?
Answer
Productive Expenditure: Improves productive capacity of the economy (machinery, education, training, health). It is investment in nature. Unproductive Expenditure: Does not add to productive efficienc…
What is Wagner's Law of increasing state activities?
Answer
Wagner's Law states that there is a persistent tendency towards both 'extensive' and 'intensive' increase in state functions. New functions are continuously undertaken and old functions are performed …
How has India's public expenditure grown since independence? Give statistics.
Answer
India's central government expenditure increased from ₹900 crore in 1950-51 to ₹38,48,978 crore in 2015-16. The ratio of public expenditure to GDP increased from 9.1% in 1950-51 to 28.2% in 2015-16, s…
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