Is the Budgeting Exercise of any Use?

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.

Hi friends, I am Deepika and I would like to share my views on this topic.

I think budgeting is important in every sector of our life. Like in a family, people plan according to their future that means they plan their expenditure, saving according to their earnings for their future use. They want to prepare themselves for any situation that may occur in the future.

Likewise budgeting on a national level is also useful as if it is planned properly and implemented keeping in mind about each and every section of the society then it could be very helpful for the development of those are not able to perform just because of low resources. So what is the requirement of the time is to properly manage the resources so that people can benefit from that.

Like if village people are not able to afford their child's education in their income then if the budget is in the right direction then we can help the child by giving the help from that budget.

Thank you.

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.

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.

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?

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.

Hello.

In my point of view we need perfect budgeting system in our country. Because we are developing country. WE have less money comparing to others for the development. So maximum utilization of money is needed here. For that we can allocate the money in three groups.

1. For the most urgent areas.

2. Urgent areas.

3. Less urgent areas.

Based on this the budget is maintained in an efficient and effective way we can come up. We wants control the malpractices first.

Yes budget is important, preparing the budget helps in a strategic and wise use of money. Budget is useful to everyone whether its government or a family person. Planning ones future expenses always being a wise thought. The government execute budget plans which helps in the development of our country. Without proper planning of budget a nation cannot progress.

Hello friends.

According to my opinion budgeting exercise is most important for common people as well as government. Middle class and below the middle class people must have the budget that is expenditure for month or year depending upon their income for the month or year if they did budget exercise well they will lead their life without any hurdles but if they do not plan well everything is a big hurdle for them so it is important for people. But for government it is more important to lead the country or state without any problems why?

Because if the government allocate some amount of budget for one period of time it must fulfill the required needs for that period of time, other wise government have to face more problems from they respected peoples of that country. So budgeting exercise is most important for people and government, if they plan very good budget they will enjoy that much, but if they did wrong budget they have to suffer.

Not only government, companies also prepare a budget. It is also used as a tool for controlling costs.