Question

Define Government Budget.

Hint:

A government budget is the government's plan for how it will earn and spend money over the next year.

Answer 1

A government budget is an annual financial statement that presents the government's estimated revenues (e.g., from taxes) and proposed expenditures (e.g., on defense, infrastructure, healthcare) for a forthcoming financial year. It is a key instrument for implementing fiscal policy and reflects the government's economic priorities and plans.