Question

If the Department of Defense (DoD) implemented the plans described in its 2019 Future Years Defense Program, its base budget (which funds normal peacetime activities) would climb from the $617 billion requested for 2019 to $735 billion (in 2019 dollars) in 2033, CBO estimates. Most of that increase would result from increased costs for military personnel and operation and maintenance. Base-budget costs would substantially exceed the share of funding that DoD has previously received under the Budget Control Act’s funding caps in both 2020 and 2021, the final years subject to those caps. Estimated costs based on historical trends instead of some of DoD’s estimates would be about 5 percent higher over the 2019–2033 period."

And Congressional Budget Office which the article above discusses the Fiscal Policy module. Explain the spending and budget of government on different departments such as:

Agriculture, Budget, CBO Operations, Climate and Environment, Defense and National Security and so on

Summarize in 200 words

Answer 1

The expenditure budget has increased marginally for the 2018-2019 period owing to higher allocations in various sectors.All expenditure including allocation for central projects and establishment expenditure has been raised from the previous year.There are mainly 5 sectors in the budget .they were the followings.

• RURAL DEVELOPMENT
• AGRICULTURE AND ALLIED ACTIVITIES
• SUBSIDY FOR FERTILIZER
• SUBSIDY FOR FOOD
• DEFENCE

Significance of expenditure budget

Expenditure plays a major role in any union budget drafted by the government. A drastic increase in government spending and expenditure could widen the fiscal deficit and affect the economy.With that being said inadequate spending could slow down and affect growth across various sectors in the country.''It goes without saying that the government must strike a proper balance between revenue and expenditure in order to sustain economic growth across the country.''