Old age pension is "National Old Age Pension Schemes", "Interest payments", "Subsidies", "Unemployment allowances", "Welfare benefits to weaker sections, etc." By incurring such expenditure, the government does not get anything in return, but it adds to the welfare of the people, especially belong to the weaker sections of the society. Such expenditure basically results in redistribution of money incomes within the society.

Question

Quizplus · Accepted Answer

Transfer Expenditure or transfer payments are those where the government does not receive any goods or services in return, but these payments are made to redistribute income within society, such as old age pensions, subsidies, and welfare benefits.

Old Age Pension Is "National Old Age Pension Schemes", "Interest