Give examples of the ways public budgeting enriches everyday

Give examples of the ways public budgeting enriches everyday lives. What are some expectations an individual can hope for in taking Public Budgeting? How public budgeting can benefit you both as a resident and as a professional working in government.

Solution

Budgeting plays a major role in the everyday lives of people starting from the garbage collection, transit to the safety of the neighborhoods. Public budgeting helps in community development. The budgeting is based on the per capita income of the country. Hence a better public budgeting ensures that the expenses are within their earnings. For example, the transit budget has certain limitations such that the private sectors cannot raise the ticket price above the ceiling. This kind of public budgeting helps and protects the people from the misuse of the transportation sector.

Though the public budgeting are formulated by the government, the budgeting should be drafted based on the expectations of the people. The common expectations are that the price of the commodities to be reduced rather than an increase; transportation cost or the price for the transit should not be increased. The other common expectations are that the housing or the property tax should not be heavily levied; there should be an increase in the social security pensions, etc. To summarize the public budgeting should be within the public income.

A proper public budgeting helps me both as a resident and as a government employee. Yes, as a resident I benefit in such a way that the budget is within my family income. As a government employee I benefit by the social security pensions that I might receive after my retirement.