SIGNIFICANCE
OF BUDGET FOR SOCIAL AND ECONOMIC DEVELOPMENT
Budgeting
for a development plan includes budgeting of finance, manpower and materials.
These are the resources for executing a development plan.
The capital budget actualizes intentions of the plan and it is
principle the main instrument for giving both legal and financial effects to
the plan year by year. The budget is drawn up on firmer grounds than the plan
and gives a more detailed picture of the financial situation. Availability of
manpower and material resources annually, and used as a basis for
implementation the plan based on current realities of the economy. The amount
allocated for a project for year forms a part of the capital estimate in the
budget for that year.
The detailed
information for any project in any sector published in the final approval
capital estimates shows the details of expenditure on the projects.
However, a
number of fiscal and monetary measures adopted by the government within any
financial year affect the actual expenditure on any project.
This comment has been removed by the author.
ReplyDeleteHello
ReplyDelete