Is the Budgeting Exercise of any Use?

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.

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).

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.

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.

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.

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.

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.

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.

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

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.