The expenditure done by the government in "Education" can be expressed in which of the following ways?
Answer & explanation
Correct answer: option 1
The expenditure by the government on education is expressed in two ways (i) as a percentage of ‘total government expenditure’ (ii) as a percentage of Gross Domestic Product (GDP). The percentage of ‘education expenditure of total government expenditure’ indicates the importance of education in the scheme of things before the government. The percentage of ‘education expenditure of GDP’ expresses how much of people’s income is being committed to the development of education in the country.