Question

Define government budget. Explain its objectives.

Answer 1

Answer:

A government budget is a document prepared by the government or other political entity presenting it's anticipated revenues and proposed spending for the coming financial year

Answer 2

Answer:Budget of the government describes in detail the estimated receipts and proposed expenditures and disbursements of the government under various heads for the coming year.

Explanation:Need and importance of Government Budget :

1. Planned approach to government's activities

2. Integrated approach to fiscal operations

3. Influences economic activities

4. Instrument of economic policy

5. Index of government's functioning

6. Public accountability

7. Allocation of resources