National Budget

Budget is the idea or design for future prospects. A national budget is the process which helps in preparing accurate statement of income and expenditure of a country. Therefore budget of any country is the statement of total income and expenditure of the subsequent year calculated on the basis of economic activities of the total population. That is why budget of any country is not only the statement of domestic income and expenditure but also the lists of income received through domestic resources, external remittances as well as foreign trade. And at the same time expenditure incur4ed for subsequent year in the various sectors of economy.