Federal Budget: What It Is, How It Works, History

UPSC Economics 2026 | Ch 5: Budget Components & Deficits Explained | NCERT Class 12 Macroeconomics

Today the federal government pressed ahead with releasing its mid-year budget update, showing a reduced deficit for this financial year but little change to the long-term forecast of deficits in the next decade. 7.30's political editor Jacob Greber reports. | 7.30