Question : Which of these is one of the functions of the Government budget?
Option 1: Management of money supply
Option 2: Maintaining strict budgetary balance
Option 3: Redistribution of income and wealth
Option 4: Price fixation
Correct Answer: Redistribution of income and wealth
Solution : The correct option is Redistribution of income and wealth .
One of the functions of the Government budget is the redistribution of income and wealth. The government can use the budget to implement policies that aim to reduce income and wealth inequality within a society. This can be achieved through progressive taxation, social welfare programs, subsidies for low-income individuals or sectors, and other measures designed to transfer resources from the wealthier segments of the population to those with lower incomes. Collecting revenue from higher-income individuals and allocating resources to support lower-income groups, ultimately promotes a more equitable distribution of wealth and income in society.
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