What Is a Government Budget?

The state budget, also called the government budget, is the government's basic fiscal revenue and expenditure plan, which is the national fiscal revenue and expenditure plan approved by legal procedures. The state budget is the basic means for realizing the fiscal function, reflects the country's governing principles and socio-economic policies, and defines the scope and direction of government activities. ^[1]

National budget

State budget

according to

The role of the state budget is mainly reflected in four aspects:

1. Identify resources available to the government to facilitate comprehensive arrangements

Every country in the world, whether it is a federal state or

What we mean by budget management here includes budget preparation, review and approval, implementation and supervision. China's laws on budget management mainly include the Constitution, local organization law, rules of procedure of the National People's Congress, rules of procedure of the Standing Committee of the National People's Congress, budget law, audit law, and decisions of the Standing Committee of the National People's Congress on strengthening central budget review and supervision. China's Constitution stipulates that the State Council exercises the power to prepare and execute the state budget, the National People's Congress exercises the power to review and approve the state budget, and the Standing Committee of the National People's Congress exercises the power to review and approve budget adjustment programs and supervise the implementation of the state budget. The rules of procedure of the National People s Congress and the rules of procedure of the Standing Committee of the National People s Congress stipulate the responsibilities, review methods and procedures of the National People s Congress, the Standing Committee of the National People s Congress, the Financial and Economic Committee of the National People s Congress, and relevant special committees in budget review and supervision. The budget law specifies the responsibilities, roles, and operating procedures of the people's congresses, governments, financial departments, and relevant departments and units in budget preparation, budget approval, budget execution, and final account review. The audit law stipulates the objects, contents, functions and powers and procedures of auditing budget performance and final accounts. The decision of the Standing Committee of the National People s Congress on strengthening the review and supervision of the central budget proposes that the review and supervision of the central budget be strengthened, and the provisions on budget review and supervision of the National People s Congress are specified, clarifying the budget review and supervision of the Standing Committee of the National People s Congress Specific responsibilities, tasks and related work procedures.