ROLES OF BUDGET IN MODERN ECONOMY
I. Budgeting is used as a means of raising revenue.
II. Budget can be used as a tool for economic planning.
III. Budgeting serves as a means of protecting the economy.
IV. The government uses the budget as a tool for controlling inflation by spending lesser money that received by way of tax and other sources.
V. Budget can also be used as a way of the remedy of deflationary situation through the implementation of Budget Deficit.