Is the Budgeting Exercise of any Use?

Budget serves a great purpose in our economy. Our economy is a developing economy. So for India it is beneficial to make budget. Budget maintain our expenditure and our receipts. Budget is not only a set of statement showing expected receipts and expenditures of the government.

But it is a reflexion of government policies and a set of objectives that the govt seek to achieve over time. Objectives like redistribution of income and wealth reallocation in resource economic stability and managing public enterprises. Budget shows the achievement of the government within one year and new policy of the govt for next financial year. So definitely it is useful.

Budgeting is very very imp in our country. As we need plan to run our family, business, organisation. In the same way we need budget to run our country and specially for a developing country like India it is very very important. Well as our country is a developing country we need to develop in many fields. Now depending upon the priorities our govt make plan for long time like five year budget, and short time plans like yearly budget, monthly budget.

But if there is any negative about the budgets then I want to claim that our govt should arrange proper monitoring system so that the plans are executed properly and corruption cannot come in.

Hi,

In my opinion budget exercising is necessary. Because through the budget only we can get to know about how the government is utilizing its financial resources. The common man can get to know about many important facts about the spending of money by government through budget like in terms of education, agriculture, industries, transport, welfare etc like this. It makes the people aware about the spending of money to one's needs. It cautions to spend money carefully based on one's needs. Therefore budget exercising is necessary for the growth of economy and also to reduce unnecessary expenses.

Everything has its pros and cons related to it. Now, what are actually pros for budgeted exercises. Firstly what exactly budgeting mean it is a plan to execute different aspect in a country. Now if the proper plan has been executed then budgeting may help in different aspects like education and job opportunities as well. For example in education student who are unable to pay their fees if the budget has been properly incorporated then the government could use that budget to provide education to all those students who deserves to get an education at that stage.

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.

As we all know our country has the fastest growing economy among all the developing countries. Budget plays a crucial role in the development of any country. It's like a proper planning of family between its expenditures and earnings where some are saved for the future. Through the budget every individual is aware of country's revenues and expenses as the distribution of collected funds is known to everyone. This helps the government to gain the trust of people and mitigate corruption. That's why we have a new budget every year.

Thank you.

Yes. Budget, though doesn't gives the true picture of government's income and expenditure, gives rough figure of incomes and expenditures that government is going to have in coming fiscal year. It shows that which sector in the economy will be getting more importance by allocating more funds for the development of that sector. It basically shows break up of incomes and expenditures. This also helps people of the country in knowing that how is its government's going to develop different sectors and can assess how will it affect the economy.

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.

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.

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.