A budget is an estimation of revenue and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis. Budgets can be made for a person, a family, a group of people, a business, a government, a country, a multinational organization or just about anything else that makes and spends money. At companies and organizations, a budget is an internal tool used by management and is often not required for reporting by external parties.
A budget is a microeconomic concept that shows the trade-off made when one good is exchanged for another. In terms of the bottom line – or the end result of this trade-off – a surplus budget means profits are anticipated, a balanced budget means revenues are expected to equal expenses, and a deficit budget means expenses will exceed revenues.
Gujarat Budget 2019-20 Declared By Finance Minister Nitinbhai Patel