A government budget is a projection of the government's revenues and expenditure for a particular period, often referred to as a financial or fiscal year, which may or may not correspond with the calendar year. Government revenues mostly include taxes (e.g. inheritance tax, income tax, corporation tax, import taxes) while expenditures consist of government spending (e.g. healthcare, education, defense, infrastructure, social benefits). A government budget is prepared by the Central government or other political entity. In most parliamentary systems, the budget is presented to the legislature and often requires approval of the legislature. The government implements economic policy through this budget and realizes its program priorities. Once the budget is approved, the use of funds from individual chapters is in the hands of government ministries and other institutions. Revenues of the state budget consist mainly of taxes, customs duties, fees, and other revenues. State budget expenditures cover the activities of the state, which are either given by law or the constitution. The budget in itself does not appropriate funds for government programs, hence the need for additional legislative measures.
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State budget in the context of Legislative
A legislature (UK: /ˈlɛdʒɪslətʃər/, US: /-ˌleɪtʃər/) is a deliberative assembly that holds the legal authority to make law and exercise political oversight within a political entity such as a state, nation, or city. Legislatures are among the principal institutions of state, typically contrasted with the executive and judicial institutions. They may exist at different levels of governance—national, subnational (state, provincial, or regional), local, or supranational—such as the European Parliament.
In most political systems, the laws enacted by legislatures are referred to as primary legislation. Legislatures may also perform oversight, budgetary, and representative functions. Members of a legislature, called legislators, may be elected, indirectly chosen, or appointed, and legislatures may be unicameral, bicameral, or multicameral, depending on their constitutional design.
State budget in the context of LUKOIL Neftochim Burgas
LUKOIL Neftohim Burgas (Bulgarian: ЛУКОЙЛ Нефтохим Бургас), based in Burgas, Bulgaria, sometimes spelt "Neftochim Burgas," is one of the largest oil refineries in the Balkans and the largest industrial enterprise in Bulgaria.
Owned by Russian oil giant LUKOIL, the refinery has the biggest contribution among the privately owned enterprises to the country's GDP and to the state budget revenues. LUKOIL Neftohim Burgas is the leading producer and supplier of liquid fuels, petrochemicals and polymers for Bulgaria and the region and one of the leading companies in its field in Europe.
State budget in the context of Governor of Texas
The governor of Texas is the head of state of the U.S. state of Texas. The governor is the head of the executive branch of the government of Texas and is the commander-in-chief of the Texas Military Forces.
Established in the Constitution of Texas, the governor's responsibilities include ensuring the enforcement of state laws, the power to either approve or veto bills passed by the Texas Legislature, overseeing state agencies, issuing executive orders, proposing and overseeing the state budget, and making key appointments to state offices. The governor also has the power to call special sessions of the legislature and, with the recommendation of the Texas Board of Pardons and Paroles, grant pardons.