Is the Budgeting Exercise of any Use?
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Points to remember before you participate in this disuccsion:
- Assume, you one of the member of a real group discussion.
- Take the initiative to participate and contribute your thoughts.
- Express your positive attitude towards providing the solution.
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Vijay Jaiswal said:
(Fri, May 11, 2012 08:01:37 PM)
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Here budget is not merely concerned with only union budget. Simply budget means the planning about the distribution, utilization of the resource. Like on the household level, if there is a limited resource of money and lots of spending need, in that case if we don't plan the the allocation of resource, the it will be difficult to manage the spending and saving.
In the same way, if union budget is not exercised properly, then country can be affected by economic crisis. Budgeting is done on the basis of need and requirement of the individual sector to achieve the target gdp of the country, and the proper development and fulfillment of the human resource. So the vast and democratic country like India, a proper planning of the public money is needed through its proper budgeting. |
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Rate this: +1   -1
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Deepak Barnwal said:
(Sat, Apr 28, 2012 05:37:46 AM)
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Budgeting is really important and is of great use at any social or individual level. In any economy, the government receives huge funds through different taxes, duties, customer, etc. And, to ensure that these funds are invested correctly and proportionally as per the requirement, having a budget becomes imperative. It is exactly, like, in a household, where one plans how to spend one's income and how much to save for future. It helps in overcoming a financial problem strategically. And, for a country, it ensures that sectors which need special financing are given due importance. Some might say that budgeting takes a lot of time which makes the process lengthy and time consuming.
However, it is necessary that we ensure that funds are utilized most efficiently because while making a budget for a nation a lot of facts and figures needs to be taken into consideration. For example, which sector needs urgent and immediate finance. There might be sectors which received extra funds last time that are yet to be used. Hence, such sectors would need less funds this time. Budget also helps government to properly distribute the funds in an economy. So that, the gap between the rich and the poor in a country can be bridged.
Budget also affects the market decisions. It also brings confidence to the investors to invest their money into an economy. It acts as an indicator of economic status of not only a sector or industry, but also the economy as a whole. It also helps in attracting foreign investors to invest in an economy.
So at the end, I would like to conclude that making a budget at any level is a wise decision and must be continued. Without budget, the funds may go wasted and not utilized properly. |
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Rate this: +9 -1
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Rose said:
(Tue, Apr 17, 2012 12:19:03 PM)
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| Budget is very most important things, why means it's very helpful for future plans for our and our country. Our country is developing country So, each and very citizens please don't spend money for expensive. We are know important about money please save money. |
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Rate this: +2 -7
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Brindha said:
(Tue, Apr 17, 2012 01:43:25 AM)
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| Budget is one of the most important thing to improve a country's economic growth. People have to accept and co-operate with a government for this budget slot. Because budget is not a easy thing to create for a whole country. So every citizen have to consider the government rules and regulations and the government must help to avoid the corruptions then poverty. |
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Subhrangsu Bhowmik said:
(Wed, Feb 15, 2012 10:51:01 PM)
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We need budget,more precisely proper budget,.....it is seen often after 2 or 3 months of publishing budget the prices of commodities get increased very fast. And not bounded by any assumptions of the budget....then the main purpose of the budget gets lost.So a practical budget should be made,and there should be a provision to deal with these problems. They must have to think about the bank rates,infatuations,tax-amount,weather report(not natural disasters).
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Rate this: +1 -4
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Swagat said:
(Thu, Feb 9, 2012 08:11:09 AM)
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In a vast & democratic country like India for proper usage of public money we must have proper planning. But preparation of this layout model of budgeting takes so much time & more than that time is wasted in implementing that plan. In this way around 8 months of a year is completed. Proper benefit of budget people gets for 3 to 4 months. In this sort span of time no real benefit of budget people get.
So I suggest that instead of annual budget our country should opt for biannual budget like some other countries so that required time will be there to implement the plan.
Proper vigilant system must be implemented to put a close eye on the system to check whether plans are getting implemented or not.
Most importantly our bureaucrats & politicians should stop encouraging corruption so that public money could be utilized for the public welfare. |
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Rate this: +24 -2
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Akash Hp said:
(Wed, Feb 8, 2012 10:30:43 PM)
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| Budget comprises proper planning of the government and detailed report of from where revenue will be generated and where it will be spent. Thus government if prepares a sound budget then it clearly outlines the growth and future development and the rate of development. It also enables the individual business entity to frame it's policies and taking into consideration the taxation structure and other new rules. It also allocates enough space to decide where the money should be spent and how much. Thus it is important to go for budget. |
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Rate this: +2 -0
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Shashank said:
(Fri, Feb 3, 2012 01:28:53 PM)
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Hi guys..
When we are talking of budgeting exercise we are not only talking about government and union budget. Budgeting exercise here means that calcultaion of all expenses in the particular stream. Now the question is it important to exercise the budget? There are many points in favour as well as against it.
Points supporting the budget exercising
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1> A clear database of all the expenses as well as saving is made.
2> The expenses happen in a planned way, that avoids from sudden shocks.
3> Neat Budgeting habits like proper insurance, stopping irreglarities are developed.
Points against the budget exercising
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1> In most of the cases expenses for maintaining the budget exercise is more than the saving it fecthed.
2> Valuable time is wasted in maintaing such database which does not fetches anything.
Even though we have some points opposing the budget exrcising, but the weight of supporting points are much more than them. So its better to exrcise budget. |
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Rate this: +8 -1
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Parth said:
(Mon, Jan 23, 2012 10:31:42 PM)
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| Budgeting is of utmost importance to a common citizen as future planning of a common man depends on the budget. For example, if the automobile sector will see a rise in price, the common man might change or defer his decision on buying a new vehicle. Moreover, the Union budget is much awaited as it gives an overview of where the economy of India is heading. The budget is also an indicative of the prices prevailing in goods, commodities and services in India. Many people in India still make big financial decisions only after the Union budget. |
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Rate this: +12 -1
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Mohan Rao said:
(Sun, Dec 18, 2011 06:42:15 PM)
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Most of the people associated the word budget with the Union Budget. The budgeting starts at individual level. As every mother or leader of the family allocates a specific percentage or amount of resources to different needs based on the requirements of the family members taking into account the uncertainties and price rises and change in preferences is one of the apt epitomes of budgeting.
Budgeting is a very useful exercise. It is an exercise where a person puts the economic problem into action. Problem of choice, scarcity of resources, hierarchy of wants, multiple uses of resources, problem of abundance, allocation of funds and optimum utilization of resources.
If a person doesn't earn or pay directly he may not understand the value of resources but as a person continually prepares budgets the price factor also fits into the linear programming problem of maximizing satisfaction by maximizing quality consumption which is subject to sacrifice of scarce resources.
Budgeting exercise also develops the art of bifurcating between fixed and variable natured expenditures, revenues and allocations. Budgeting exercise improves quality consciousness, maximizes the standard of living and even matures the financial understanding of individuals. |
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Rate this: +16 -3
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Alpa Niphadkar said:
(Sun, Nov 20, 2011 09:20:10 PM)
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| Budget gives transparency in governments spending. Its gives targets which the government need to fulfill. It gives the common man the right to question why the budgets were not met. Government is fully accountable for the budget figures it announces. |
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Rate this: +5 -2
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Ashok said:
(Sat, Sep 24, 2011 02:22:38 PM)
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| Budget should focus on fullfilling the needs of poor people and it should be inexpensive and alloted correctly for required fields. |
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Rate this: +4 -4
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Souvik Mishra said:
(Mon, Sep 12, 2011 05:23:51 PM)
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Budget exercising is necessary especially in a democracy like India. This is the way trough which people know how the govt is is utilizing its financial resources. It shows the growth and progress in GDP as well as economy. It also reflects on the financial strengths and weaknesses of the country and how to overcome it. What policies are framed so that it will help in developing new enterprises , what are foreign investments, about various taxation schemes etc. The most important thing is for common man budget is about various issues like price rise, tax rise, various subsidies and financial welfare.
So budget is something which makes a common man financially aware and sound and how can one improvise it. |
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Rate this: +28 -3
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Krishna said:
(Sat, Jul 16, 2011 09:25:05 AM)
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| Yes budget is most important for example one family man he is working in sugar factory he middle level so he should plan the each and every family expenture and inditual expendure and future expendure then only aviod some problem. Yo must plan for every work then only achieve your goal and live happiness. |
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Rate this: +2 -7
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Jitendra Parmar said:
(Sun, Jun 19, 2011 03:27:47 AM)
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According to my view is that budget is very important and necessary for improving economy and development. As per my knowledge budget is prepared for spend the money for maintaining and development also. Budget is distributed according to economy and development for each and every sector. Budget is maintaining the financial resources and economy also.
You know that India is developing country so that's why budgeting is very important for country future development. Budgeting means budget is distributed to each sector per year. |
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Rate this: +4 -1
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Anurag said:
(Thu, May 12, 2011 12:40:09 PM)
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Actually yearly budget is a tool to track down what the government is doing with the loyal taxpayers hard earned money. With the budget being declared each year a huge amount our money end up in the overseas bank accounts of the politicians imagine the condition if there would be no budget.
Though the budget does not affects the common man to a great extent but it shows what is government planning to do with the public's money so it is very necessary.
And the other thing is that the budget is the most important task of the finance minister. What will he do if he doesn't has to plan the use of the government funds keep remembering his overseas bank account numbers? |
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Rate this: +10 -0
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Vishal said:
(Mon, May 9, 2011 07:48:27 AM)
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I believe if we have check on our pockets and just keep a note of all our expenses it allows you to save a lot of money. This is just on individual basis. This proves the point that budget is imperative, cos if it is so useful at such a root level it has to be beneficial at the state and national level.
Budget makes the government understand its potential areas and also d areas which may not yield profits, so that accordingly we can take a control of expenditures on these.
Channelising the resources in the best possible way so that it causes a gain or if not a gain atleast minimum of the losses is the core idea behind the budgets. And for the developing countries like India, where population is increasing at an alarming rate and so also the food prices, it will b difficult to contain both of them without proper utilisation of resources. Hence Budget is MUST. |
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Rate this: +14 -0
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Sayantani said:
(Fri, May 6, 2011 12:06:39 PM)
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Budget, though we take it as an yearly affair of which we hardly remember anything in the following months actually from a common people's perspective it's all about price change of daily life product but from the national point of view it creates future path. Budget doesn't only show the last year's data but also provide a chance to rectify the faults. Even in which regard the future policies should be planned is being decided based upon the past data.
In other words along with future planning it gives as the chance to self improvement. |
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Rate this: +1 -1
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Navneet Kaur said:
(Wed, Mar 23, 2011 12:53:30 AM)
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According to my view preparing budget is important in every sector. Talking about the technology sector we see that we are one of the country which is growing and developing and to become globalised we need curreny help by planning our yearly budget we can make some helpful estimation for ourself and our country.
Planning on budget show us where we are needed and by how much we need and how can we fullfil them? whether on educatinal sector, social sector, railway sector etc.
Budget helpful for us and if our goverment prepairing any type of budget they should have deep thing on them they should think about the growth of the country not about themself, they should think about country not about there state as mamta banerjee used to do or any other politician do.
Budgeting should taken seriously according to my point of view. |
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Rate this: +2 -0
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Radhakrishna, Mits, Mba said:
(Wed, Mar 16, 2011 05:38:46 AM)
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| Budgeting means to allocate the funds premises to every sector at the year base. Its aim very good to maintain every sector, and gives priority to each sector according to growth and dependable people, but these days it maintenance is very critical because funds allocated percentage written only in books fail to implementation, its is bane for our growth. |
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Rate this: +2 -0
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Sreelatha Mits said:
(Wed, Mar 16, 2011 05:29:14 AM)
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| Budget is prepared for maintaining the financial resources for an year. It allocate less amount the fee reimbursement. It mainly concentrated on secondary sector. It is boon to improving the economic growth. Through this year budget employment is increased. |
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Mithra said:
(Mon, Jan 3, 2011 01:49:22 AM)
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| Budget is prepared to reduce the unnecessary expenses and aware of how much has to spent on every decision. If with the budget itself government is deviating and spending more and end up somewhere. Think what will happen if there is no proper budget ?!. |
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Nirupa said:
(Thu, Dec 30, 2010 01:19:58 PM)
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| Although the budget is being revised every year and targets are set the government along with its people do not go as per the budget. there are some or the other diversions taking place which finally reflects on the country's economy and the growth rate. |
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Rate this: +2 -1
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