what is national budget
What is a national budget?
Answer:
A national budget, also known as a government budget, is an official document that outlines the government’s estimated revenues and expenditures for a specific period, usually a fiscal year. The national budget typically includes detailed information on how the government plans to raise revenue through taxes, duties, and other sources, as well as details on how these funds will be allocated to different sectors such as education, defense, healthcare, infrastructure, and social welfare programs.
The national budget serves as a financial plan for the government, guiding its spending decisions and priorities. It plays a crucial role in shaping the economic policies of a country and reflects the government’s objectives and priorities. The budget is often presented to the parliament or congress for approval, and once approved, it becomes the basis for government spending during the specified period.
By analyzing the national budget, citizens, policymakers, and analysts can gain insights into how the government plans to manage public finances, achieve economic growth, address social issues, and ensure fiscal stability. Monitoring the implementation of the budget allows for accountability and transparency in government spending, ensuring that funds are used efficiently and effectively to benefit the country and its citizens.