Question

If the federal government's tax revenues are greater than its outlays, then the federal budget has a?

Answer 1

If the federal government's tax revenues are greater than its outlays , then the federal budget has a surplus.

Surplus is defined as →

For any given year, the federal budget deficit is the amount of money the federal government spends (also known as outlays) minus the amount of money it collects from taxes (also known as revenue). If the government collects more revenue than it spends in a given year, the result is a surplus rather than a deficit.

When the economy is weak, people’s incomes decline, so the government collects less in tax revenue and spends more on economic security programs such as unemployment insurance or food assistance. This is one reason that deficits typically grow (or surpluses shrink) during recessions. Conversely, when the economy is strong, deficits tend to shrink (or surpluses grow).

Federal government →

A federal government is one in which powers are divided between the national government and the regional governments by the Constitution itself and both operate in their respective jurisdictions.

The federal features of the Constitution of India are:

• Dual Polity: The Constitution establishes a dual polity consisting the Union at the Centre and the states at the periphery. Each is endowed with sovereign powers to be exercised in the field assigned to them respectively by the Constitution

• Written Constitution: It specifies the structure, organisation, powers and functions of both the Central and state governments and prescribes the limits within which they must operate. Thus, it avoids the misunderstandings and disagreements between the two

• Division of Powers: The Constitution divided the powers between the Centre and the states in terms of the Union List, State List and Concurrent List in the Seventh Schedule

Supremacy of the Constitution

The Constitution is the supreme (or the highest) law of the land. The laws enacted by the Centre and the states must confirm to its provisions.

Thus, the organs of the government (legislative, executive and judicial) at both the levels must operate within the jurisdiction prescribed by the Constitution

Independent Judiciary: The Constitution establishes an independent judiciary headed by the Supreme Court to settle the disputes between the Centre and the states or between the states

Learn more about Federal government:

brainly.com/question/972080

#SPJ4