Public Budgeting

Public Budgeting

Introduction

Public budgeting is an area of public administration and is characterized according to the approach , function , formation and type There are various view points of public budgeting , for a politician it is a political event , which is carried out for some political advantage in the ongoing political scenario . For an economist , a budget is a way of allocating resources with respect to the associated opportunity cost where such allocation takes away the resources from one consumer to the other . Hence , an economist 's role is to provide suitable

information to the decision makers for allocation of resources . From an accountant 's perspective , accountability cost in budgeting is the main area of focus where the analysis is done on the difference between actual cost and the budgeted cost . Public budgeting can be defined as a policy tool which is used by the authority to explain policy implementation for the public There were various areas where the public budget led emphasis for the socio-economical development of a nation like , health , education infrastructure , etc . The public budget of United States is comprised of the federal budget along with the state , local and the agency budgets We shall now discuss these forms of budgets with respect to their similarities and differences

Federal Budget

The Federal budget of US is funding level recommendation that is being proposed by President to the US Congress . The federal budget is dependent on the congressional decisions , which are governed according to certain rules and regulations . There...