IGNOU EPA 5 2017 2018 - Explain the classification of government expenditure.

Question

Explain the classification of government expenditure.

21 Apr 2018

Answer :

Word Count : 417

Government expenditure can be broadly classified into four categories: (i) Functional Classification or Budget Classification (ii) Economic Classification (iii) Cross Classification and (iv) Accounting Classification. each classification of expenditure in government serves one objective or other i.e. financial control, economic growth, price stability etc.

(i) Some economists classify public expenditure on the basis of functions for which they are incurred. The government performs various functions like defence, social welfare, agriculture, infrastructure and industrial development. The expenditure incurred on such functions fall under this classification. These functions are further divided into subsidiary functions. This kind of classification provides a clear idea about how the public funds are spent.

ii) Economic Classification: Economic classification refers to the resources allocated by government to various economic activities. It involves

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