Union Budget 2025: Why is it important for government to have a budget?
Resources have to be used to uplift underprivileged sections of society, ensure financial inclusion, reduce regional disparities, strengthen defense capabilities, provide quality education, and much more. It then becomes essential for a well-planned budget for any government to achieve economic stability and growth.
Here are a few reasons why it’s important for the government to have a budget:
Proper resource pool allocation
Budgeting involves identifying areas of weakness and strategically allocating resources to address them. This is one of the primary goals of framing a government budget.
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