A balanced budget amendment is a constitutional requirement that a state's spending cannot exceed its revenue. It necessitates a balance between the government's planned receipts and expenditures.
What is the purpose of the state budget?
The budget is the most important tool for carrying out government economic policy in modern industrial economies.
The following are some of the major goals of the government budget: Income and wealth disparities reduction, Economic Growth and Development, Disparities between regions are being narrowed and many others
Thus, a balanced budget is required in the state budget.
Learn more about the state budget here:
https://brainly.com/question/24608767
