Is the Budgeting Exercise of any Use?

To run a home with four or five people, with a limited income, we need to plan and budget. Just think about a nation, its people vast and never ending needs. Without a budget we hardly know where we will go and land. When we budget, we know where we need to spend the money, and how much what the priorities are. Without budget you never know how much you need to spend and in what areas.

There are definitely many uses of the budgeting exercise. First, it helps us to have a look at the needs of the country, what are our basic needs how much do we need and to what time to do what? All these details we come to know only when we budget. There will be many aspects that need to be taken care of, when we think of a country. Peoples, educational needs, health needs, loans taken from the other countries and World Bank. Budgeting for infrastructural development, completion of projects.

On top of it resources and funds should be set aside for the development of research and most important of all, for the security and safety of the nation, funds should be allotted to the defense. Funds should be set aside for subsidies, natural calamities. And the list goes on and on. It is just impossible to run a country and to take it on a progressive way, if there is no budgeting.

You don’t know the priorities, when you don’t budget, you don’t know where you need to spend the money. You never know if you will be spending money on unnecessary, matters. So the uses of budgeting are limitless, and the truth is that budgeting is a need, not an option that we have, to see if we have any uses we will budget or otherwise no.