Budget : Concept and Significance of Budget, Various Approaches and Types of Budgets

The budgeting, in its most basic form, had been present in practically all kingdoms throughout time. There has been a recorded paper pertaining to the existence of the public purse, auditors, and examiners hired by monarchs to safeguard the imperial money. Lawmakers have a significant role in the management of public finances in liberal nations. The revenues and incomes received by the government through various means are to be utilized for the advancement and welfare of society as a whole and the underprivileged groups in particularly