Ram was having a conversation with Jeet, Jeet said, "Developing countries generally prepare a Balanced budget", to which Ram replied," No i do not agree". What do you think about what Jeet said?

Jeet's statement is false

The correct answer is Option 2: Jeet's statement is false

A balanced budget occurs when a government's revenues are equal to its expenditures, meaning there is no deficit or surplus. Developing countries often face challenges such as limited revenue sources, high public spending needs, and economic instability. As a result, they frequently run budget deficits rather than balanced budgets. To finance their development programs and manage economic challenges, developing countries often rely on deficit financing. This involves borrowing from domestic and international sources to cover the gap between revenue and expenditure. Thus, Jeet's statement is not accurate because developing countries typically face budgetary imbalances rather than balanced budgets due to their economic conditions and financial needs.