Government Budget

The term budget is derived from the French word ‘Bougette’ which means a
leather bag. A budget can be defined as a statement of the estimates of annual
revenue and expenditure of the government.
According to Taylor, “A budget is a financial plan of the government for a definite
period.”
According to Dimock, “A budget is a financial plan summarizing the financial
experiences of the past, stating a current plan and projecting it over a specified
period of time.”