The correct answer is: a) Revenue and Capital
The Assam budget is divided into two main parts: revenue and capital. The revenue budget is concerned with the income and expenditure of the state government from its own sources, such as taxes, fees, and other revenue. The capital budget is concerned with the income and expenditure of the state government from loans and other sources, such as borrowings from the central government and other financial institutions.
The revenue budget is further divided into three parts: ordinary revenue, extraordinary revenue, and special revenue. The ordinary revenue is the main source of income for the state government and is derived from taxes, fees, and other sources. The extraordinary revenue is derived from non-recurring sources, such as sale of assets and receipts from loans. The special revenue is derived from specific sources, such as the central government’s share of taxes and duties.
The capital budget is further divided into two parts: plan expenditure and non-plan expenditure. The plan expenditure is the expenditure on development projects, such as construction of roads, bridges, and schools. The non-plan expenditure is the expenditure on non-developmental activities, such as salaries and pensions.
The Assam budget is prepared by
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