A national budget is a financial plan created by a government that outlines expected revenues and expenditures for a specific period, usually a year. It helps allocate resources to various sectors such as education, healthcare, and infrastructure. The budget reflects the government's priorities and economic goals, guiding how public funds are spent. Governments typically prepare their budgets based on projected income from sources like taxes and grants. The budget must be approved by the legislative body, such as a parliament or congress, before it can be implemented. This process ensures transparency and accountability in public spending.