Is the Budgeting Exercise of any Use?

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.

Budget is where you are in the present trying to sort of the faults that occurred in the past and considering of weighing out your options for the future. The budget is normally prepared to list down your sources of income and accordingly allocating these funds for expenses and saving the rest for a rainy day.

Now without a proper plan for how to spend your funds you tend to overspend leading to a deficit. This deficit may be a negligible amount at the individual's level, but at the national level the amount is so big that the government cannot afford to misappropriate the funds. Also the government is accountable to the people who are the major contributors to its revenue.

Thus a budget is definitely necessary but how much of it is necessary should be the actual question!

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.

Hello friends,

In my childhood in every year I were listening about budget. AT that I was pretty small to get these things. Yet today I am in think how budget effects there may have following reasons:

1) As everyone knows to purchase or buy anything we require money. In the same sense for providing facilities to citizens such as transportation, education, security etc. Country needs money. This money comes from the pockets of citizens in the form of taxes.

2) For proper allocation of money taken from citizens the budget is developed. In the budget requirement of people in the country is studied as well as development is considered and the fund is allocated.

3) If the proper balance of the money in various sectors for equal growth of various sectors.

When there is no use of budget.

1) When the country has no power to control over imports such as electronics good, oil prices. I don't know why Indian gov considers these uncontrollable things in our budget because of these things budget fails.

Thank you.

Budget should focus on fullfilling the needs of poor people and it should be inexpensive and alloted correctly for required fields.

Budget is a statement of estimated receipts and expenditure. For a family, a company, an organisation and the country-budgeting is necessary. Budgeting is essential in a family to plan how the income will be spent and allocate money for health, education and other expenses besides saving money.

Budgeting is very important for the government It provides an insight of the receipts (estimated) and expenditure (estimated). It shows how the govt will spend the tax and non tax receipts it receives from citizens. Budgeting helps to allocate money for different sectors of economy and calculate budgetary surplus/deficit. Accordingly suitable policies can be adopted by government Budgeting is very important in part of planning and forecasting and is necessary for every citizen to be aware of Union budget and what to expect from the govt expenditure and how the taxes are utilised.

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.

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.

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 ?!.

Yes, I'm totally agree that budgeting is very necessary. It should be make with proper planning and with great care. If reflect financial power of country and also helps people so that they can properly invest money in each and every field.