- Entertainment & Pop Culture
- Geography & Travel
- Health & Medicine
- Lifestyles & Social Issues
- Literature
- Philosophy & Religion
- Politics, Law & Government
- Science
- Sports & Recreation
- Technology
- Visual Arts
- World History
- On This Day in
History
- Quizzes
- Podcasts
- Dictionary
- Biographies
- Summaries
- Top Questions
- Week In Review
- Infographics
- Demystified
- Lists
- #WTFact
- Companions
- Image Galleries
- Spotlight
- The Forum
- One Good Fact
- Entertainment & Pop Culture
- Geography & Travel
- Health & Medicine
- Lifestyles & Social Issues
- Literature
- Philosophy & Religion
- Politics, Law & Government
- Science
- Sports & Recreation
- Technology
- Visual Arts
- World History
- Britannica Classics
Check out these retro videos from Encyclopedia Britannica’s archives. - Demystified Videos
In Demystified, Britannica has all the answers to your burning questions. - #WTFact Videos
In #WTFact Britannica shares some of the most bizarre
facts we can find. - This Time in History
In these videos, find out what happened this month (or any month!) in history. - Britannica Explains
In these videos, Britannica explains a variety of topics and answers frequently asked questions.
- Student Portal
Britannica is the ultimate student resource for key school subjects like history, government, literature, and more. - COVID-19 Portal
While this global health crisis continues to evolve, it can be useful to look to past pandemics to better understand how to respond today. - 100 Women
Britannica celebrates the centennial of the Nineteenth Amendment, highlighting suffragists and history-making politicians. - Britannica Beyond
We’ve created a new place where questions are at the center of learning. Go ahead. Ask. We won’t mind. - Saving
Earth
Britannica Presents Earth’s To-Do List for the 21st Century. Learn about the major environmental problems facing our planet and what can be done about them! - SpaceNext50
Britannica presents SpaceNext50, From the race to the Moon to space stewardship, we explore a wide range of subjects that feed our curiosity about space!
Explain five reasons why it is important for the government to prepare the national budget annually.- It enables the government to identify sources of revenue that will be required to meet its
financial obligations.
- It enables the government to explain to the public the tax structure/set the tax levels.
- It ensures that there is a balance in the country’s revenue and expenditure hence avoiding budget deficit
- The government is able to identify ways of spending without any wastage.
- Parliament is able to monitor public resource utilization through its watchdog committees.
- It enables the government to identify/prioritize the development
projects to finance in the coming year.
- The government is able to assess its performance in the previous year and improve where necessary.
- The government is able to set aside some funds to be used in case of emergencies in the course of the financial year.
- The budge to provides useful information to individuals/organizations that maybe interested in keeping track of government expenditure/enhances accountability and transparency in the eyes of the public.
- The
government is able to win confidence among local and international development partners/donors through its plans and policies spelt out in the budget.
- To ensure equitable share of resources and balanced development.
Follow AtikaSchool.Org on our Social ChannelsThis gives you an opportunity to get our latest uodates, changes and firsthand information
The Singapore Budget is prepared for each financial year, which begins on 1 April and ends on 31 March the following year. The Budget includes the revised government revenue and expenditure projections for the current financial year, as well as the government revenue and expenditure estimates for the upcoming financial year. The Budget LogoAbout the Logo Design Singaporeans lie at the heart of each Budget. The three figures supporting one another symbolise the unity of our people, coming together with tenacity and commitment to explore new opportunities together and to reach new frontiers as One Singapore. The circles curve over as they increase in size, representing a unified progression. The colours in the logo signify a nation optimistic about a
sustainable future with greater inclusiveness.
Why is it important for the government to prepare a national budget?
The Need for Government Budget
A government budget is the means of providing control over expenditure and revenue by the government. Budgets help in maintaining stability and control over the government's finances and are also a means of providing accountability through financial reporting.
Why is it important to prepare a budget on an annual basis?
A budget helps create financial stability. By tracking expenses and following a plan, a budget makes it easier to pay bills on time, build an emergency fund, and save for major expenses such as a car or home. Overall, a budget puts a person on stronger financial footing for both the day-to-day and the long term.
Why does the government prepare a new budget every year?
The yearly preparation of the budget is also in consonance with the principle which requires all government spendings to be justified anew each year. This principle ensures that government entities continuously evaluate and review the allocation of resources to project/activities for cost efficiency and effectiveness.
Why it is important for the government of Kenya to prepare the national budget annually?
Therefore, using past data to identify sections of the society in need of economic welfare policies and implementing those policies helps the government demonstrate efficient governance and achieve economic stability in the country. A budget allows the government to regulate the imposition of taxes in various sectors.
| 
