What are the 5 items of government expenditure in Nigeria?

The major items of public expenditure in Nigeria include: administration, economic services, infrastructures and social amenities, national security and defence, grants and aids and interest on loans.

What is the structure of public expenditure?

Public expenditure is classified into revenue expenditure and capital expenditure. Revenue expenditure includes civil expenditure (e.g., general services, social and community services and economic services), defence expenditure, etc.

What are the main items of expenditure of government?

Capital expenditures

• • wages and salaries (wages,
• unemployment…) •
• purchase of goods and services. (prices, exchange rate)
• • subsidies and transfers (demand.
• for subsidies services, price of. subsidies goods )

What is the difference between government expenditures and government purchases?

Explanation of Solution In the accounting of government expenditure, it indicates the sum total of government purchases plus the transfer payments of the government, whereas the government purchases do not include the transfer payments in its calculation.

What is the importance of government expenditure?

Government expenditure provides subsides, free education and healthcare facilities to the poor people. So, government expenditure is used as a powerful fiscal instrument to bring about an equitable distribution of income and wealth.

What is public expenditure government?

Public expenditure is spending made by the government of a country on collective needs and wants, such as pension, provisions (which includes education, healthcare and housing), security, infrastructure, etc.

How many types of government expenditures are there?

So government spending or government expenditure is often divided into three main types: Current Expenditures or Government final consumption expenditure on goods and services for current use to directly satisfy individual or collective needs of the members of the community. Capital Expenditure or Gross.

What are the heads of expenditure for the government?

In the Union Budget of 1987-88, a new economic classification of total expenditure of Central Government was introduced. It is now classified as plan expenditure and non-plan expenditure. Non-plan expenditure falls under two broad heads, viz., revenue expenditure and capital expenditure.

What is the meaning of government expenditures?

(also public expenditure) the amount a government spends in a particular period: Government expenditures helped to preserve large areas of natural land. massive cuts in government expenditure. government expenditure on sth Government expenditure on health continues to increase.

How does government finance its expenditure?

The government primarily funds its spending on the economy through tax revenues it earns. However, when revenue is insufficient to pay for expenditures, it resorts to borrowing. Borrowing can be short-term/long-term and involves selling government bonds/bills.

What is government expenditure and its types?

Definition: Government expenditure refers to the purchase of goods and services, which include public consumption and public investment, and transfer payments consisting of income transfers (pensions, social benefits) and capital transfer.

What are the heads of government expenditure for 2022 23?

Total Expenditure: The government is estimated to spend Rs 39,44,909 crore during 2022-23. This is an increase of 4.6% over the revised estimate of 2021-22.

What are DDR heads?

Debt, Deposit and Remittances (DDR) are heads of account for such transactions where the Government, as a custodian of public money, receives and holds such money in trust.

Who presented the budget of 2021-22?

Ms. Nirmala Sitharaman
The Finance Minister, Ms. Nirmala Sitharaman, introduced Budget 2021-22 on February 1, 2021, amidst the COVID-19 pandemic.