Do you remember the days when you used to get pocket money, your parents used to ask where you will spend your pocket money and what you have done with your pocket money.
This is the scenario exactly with the budget, taxpayers want to know where their money is going to be used, in what fruitful schemes it is going to be utilized, what benefits the Nation is going to get.
Government is preparing budget and on 22nd of July 24, it will be tabled.
I am sharing here the Importance of Central budget:
- Planning and Management: Economic planning and management is the vital aspect of any economy and it provides a framework for the allocation of resources across various sectors of economy. This facilitates the balanced economic growth.
- Resource allocation: Budgets are allocated to different ministries and departments determining their priorities and enabling them to execute their functions effectively, productively and efficiently.
- Policy Implementation: Government makes policies for various sectors such as , education, healthcare, infrastructure, businesses, industries, social welfare, defence and the budget is a tool for implementing these policies.
- Public Accountability: It ensures the transparency and accountability of the public fund management, allowing citizens to see how tax money is being used.
- Social Equity: Through various schemed and subsidies, the budget aims to address social inequalities and uplift marginalized society.
