Features include interactive map, in-depth stories, and more.Download now. »
The week's top five must-sees,
delivered to your inbox.
A government budget is a document plan of public revenue and expenditure 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 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. (via Freebase)