explain the budget is a mirror of an economy
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Answer:
Any political party which forms government at the Centre has certain social, political and economic responsibilities. In countries with deep cultural, religious and economic diversity such as India, it is extremely important for the government to allocate resources wisely. Various factors such as uplifting underprivileged sections of the society, facilitating financial inclusion, mitigating regional disparity, upgrading defence capabilities, providing proper educational facilities, and much more need to be focused on. Therefore, a well-planned budget is of utmost importance for any government to ensure economic stability and growth.
Here are a few reasons why it’s important for the government to have a budget:
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Proper resource pool allocation
When it comes to budgeting, identifying areas of weakness helps the government to allocate resources in a useful and sustainable manner. This is one of the most fundamental objectives behind framing a government budget. It’s important for the government to ensure that funds reach where it’s required the most. Therefore using past data to identify sections of the society in need of economic welfare policies and implementing those policies helps the government demonstrate efficient governance and achieve economic stability in the country.
Ensuring economic growth
A budget allows the government to regulate the imposition of taxes in various sectors. Investment and expenditure are some of the most prominent factors contributing to the growth of a nation’s economy. The government can encourage people to emphasize more on savings and investments by providing tax rebates and subsidies.
Growth of business and trading
Businesses and enterprises look forward to the government budget as resources being allocated to various sectors are revealed. The government can encourage business owners to revise their policies accordingly and contribute to the country’s economic prosperity.
Mitigating economic divide
Economic disparity and inequality is an imminent threat to any country’s economy. The government can address these kinds of threats by introducing public and economic welfare policies for the underprivileged sections of the society through the budget.
Administering Operation of PSUs
Industries operating in the public sector contribute immensely to the country’s economy by providing employment to a lot of people and generating revenues. A budget helps the government focus appropriately on companies in the public sector by introducing policies to aid their growth.
Explanation:
Answer:
Thus, as sunlight of all colors passes through air, the blue part causes charged particles to oscillate faster than does the red part. ... More of the sunlight entering the atmosphere is blue than violet, however, and our eyes are somewhat more sensitive to blue light than to violet light, so the sky appears blue