<P> A government budget is an annual financial statement presenting the government 's proposed revenues and spending for a financial year that is often passed by the legislature , approved by the chief executive or president and presented by the Finance Minister to the nation . The budget is also known as the Annual Financial Statement of the country . This document estimates the anticipated government revenues and government expenditures for the ensuing ( current ) financial year . For example , only certain types of revenue may be imposed and collected . Property tax is frequently the basis for municipal and county revenues , while sales tax and / or income tax are the basis for state revenues , and income tax and corporate tax are the basis for national revenues . </P>
<P> A government budget is an annual financial statement presenting the government 's proposed revenues and spending for a financial year that is often passed by the legislature , approved by the chief executive or president and presented by the Finance Minister to the nation . The budget is also known as the Annual Financial Statement of the country . This document estimates the anticipated government revenues and government expenditures for the ensuing ( current ) financial year . For example , only certain types of revenue may be imposed and collected . Property tax is frequently the basis for municipal and county revenues , while sales tax and / or income tax are the basis for state revenues , and income tax and corporate tax are the basis for national revenues . </P>
what is meant by the budget of a country
what is meant by the budget of a country
an annual financial statement
an annual financial statement