Importance of performance based budgeting and public budgeting

Expert Solution

Performance based budgeting

Performance-based budgeting is the way of creating budgets based on the relationship between programs funding and expected results . The performance-based budgeting process is a tool that program administrators can use to manage more cost-efficient and cost effective budgeting outcomes . It includes three major elements such as results, strategy snd final outcome.

In this method, the entire planning and budgeting system is result oriented. There are objectives and Missions to achieve these objectives and to achieve overall outcome in the long run.

Public Budget

The Public budget is a government figure or legal documents which every year government passes a budget which shows expenditures of current period, and all revenues and taxes would be collected by government by means of public in the form of budget, As budget increases countries wealth and economy, it also includes financial plan for long term capital gains anc facilities. By means of budget government is also accountable at end of budget cycle.

Rahul Sunny answered 1 year ago

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