A government budget is a plan that outlines how a government will spend its money over a specific period, usually a year. It includes various categories like education, healthcare, and infrastructure, showing how much money is allocated to each area. By creating a budget, the government can prioritize its spending and ensure that it meets the needs of its citizens.
Budgets are important because they help maintain a balance between income and expenses. Governments collect money through taxes and other sources, and the budget ensures that they do not spend more than they earn. This careful planning helps support public services and promotes economic stability for the community.