Print Document or Download PDF

What is the budget? Know everything, easy by example.

Feed by Manisha Cat- Articles
What is the budget? Know everything, easy by example.

It is not known how money works, he can never get rid of financial hardship, then it does not matter in his life that he is earning 10000 per month or 10 lakhs.

Understanding how money works is Financial Education or Financial Literacy and if you are not Financially Literate, you can never get Financial Freedom, but every day you will be thinking that any specific need you have How to complete, then if your age is 25 years or 60 years, you will have to earn every day to fulfill your specific needs.

What is Financial Freedom?

Financial Freedom is the state of your life, where all expenses related to meeting all your needs are very easy to complete without worrying about it, because you have to spend all the short and big expenses of your life From pre-planning, this pre-planning is not only an arrangement for all fixed expenses in daily life, but the sudden emergence of sudden emergencies There is also provision for Tnaon. That is, you are literally self-dependent financially.

Not only do you fulfill all your responsibilities better than others, but also live your dreams in time. You decide on your own retirement as per your wishes and while enjoying the money you earn, you make your dreams live in time, then it does not matter whether you are doing government jobs or Private Job, and you are in your life. Financial Freedom can be obtained, while you are financially educated and your financial freedom begins with Budget.

What is a budget?

Whenever the budget is heard, we are reminded of the budget that is made by the government every year, where we try to know that what the government has increased tax by increasing the tax on the next financial year And on what things, by giving subsidies to the people of the class, through subsidy or by making some reduction in value in some other way, we never pay attention to the basic sentiment of the budget. Giving In. We never question that why does the government make budget every year?

The government works two years by making a budget:

  • In the next financial year, estimates the expenses incurred in various types of development work done in different areas of the country (Industry, Infrastructure, Education, Health, Transportation, etc ...). And
  • To meet those expenses, appropriate measures for arranging funds (such as taxing or enhancing certain types of new taxes on some things or reducing or eliminating the subsidy given earlier, etc ...) There are different types of measures.

That is, in simple words, the government determines what is to spend the next year related to the development of the country with priority and how to arrange money for those expenses. The name of this report of income (expenditure) and expenditure is budget and every budget is made for a fixed period. For example, the government makes its budget for every financial year (1st April to 31st March), while a company can create its own budget for each quarter.

In the same way, the budget is made by the government in order to continue the development of the country smoothly, in a similar way, a fixed budget can be made for each organization whose growth is dependent on finance or money in any way. Our house is such an organization.

Read More.

Go Back