THE PROBLEM OF GOVERNMENT BUDGETING IMPLEMENTATION IN DEVELOPING COUNTRIES (A CASE STUDY OF NIGERIA)
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THE PROBLEM
OF GOVERNMENT BUDGETING IMPLEMENTATION IN DEVELOPING COUNTRIES
(A CASE
STUDY OF NIGERIA)
CHAPTER ONE
INTRODUCTION
1.0
BACKGROUND OF THE STUDY
A Budget is commonly understood as
the focus by a government of its expenditure and revenue for a specific period
of time. The general budget can be defined as a government plan for revenue and
expenditure for the coming fiscal year.
According to Prof. Udabah S I,
budgeting has been in operation in Nigeria and indeed other countries for a
fairly long period, to assist in policy making and planning and also, to
provide the basis for controlling income and expenditure. To him, the major
source of anticipated revenue to backup budgetary expenditure by government is
from indirect taxation because of the difficulty in the assessment and
collection of direct tax from taxable individual. The inefficiency of tax officials
and the corruption of some of them make it difficult for adequate revenue to be
realized by government through direct tax.
Budget was employed to attain the
objective of full employment in the economy, price stability, raising growth in
National output, Balance of payment equilibrium and equity in income
distribution.
The united
state of America experienced a budgetary system which places greater emphasis
on the revenue than expenditure. The trend of development which places more
emphasis on revenue was carried over to all the British colonies. However, in
Nigeria, experience was derived from a more mature British system because, the
national system was adopted during the time of independence between 1957-1960
in spite that Nigeria did not fail to encounter avoidable problem in the
budget.
Ude M.O. emphasised that government
budgeting emerged out of representative democracy. Originally, in England,
government budgeting was used as the instrument whereby noble compelled the
monarch to be accountable to them for the expenditure of the proceeds from tax
imposed by the monarch on the people later periods of Middle Ages. Fiscal and
economic policy changes by government at times have destabilizing effect on the
entire economy as that of Nigeria should not be disturbed with frequent policy
changes.
1.1
STATEMENT OF THE PROBLEM
The Nigerian
Economy is faced with series of imbalances in their implementation, despite the
availability of the various source of fund to the government. Several budgets
have been designed with sole purpose of arresting decline growth in the
production sector, check inflationary pressure and correction of Balance of
payment deficit and maintaining a reasonable foreign exchange reserve. However,
the important question that arises is “Why is it that the objectives of
government budget have not been achieved in most developing countries like
Nigeria”. This has lead to an increase in the level of unemployment and equally
to a general low level of standard of living.
This project work, therefore, seek to
have a look at loopholes that have been responsible for rendering the budget
implementation ineffective, thereby not achieving the desired objectives.
Though an insight into some budget have being done in the past to generally
help in drawing critical analysis of the effect of budget in the economy.
1.2
OBJECTIVE OF THE STUDY
1. To study the nature of government
budgeting basically in Nigeria.
2. To find out why targeted goals have never
been achieved in Nigeria.
3. To find out the best revenue allocation
formula that is suitable for economic growth and development.
4. To find out such other factors that is
likely to affect budget implementation.
1.3 RESEARCH
QUESTIONS
a. Why is it that the objective of budget
have not been achieved in most
developing countries such as Nigeria
b. What are the causes of poor implementation
of budget
c. Why targeted goals of budget have never
been met up in Nigeria.
1.4 SIGNIFICANCE OF THE STUDY
1. The
result of the work will help policy makers in the area of public finance to
know how to tackle some of their problem which has been researched on.
2. It is
also indeed anticipated that this research work will be of immense help to the
academic and others who may find study invaluable source of material for their
future research work.
3. This
research will help to correlate, compare and co-ordinate the financial
administration of the various government departments.
1.5 RESEARCH
HYPOTHESIS
HYPOTHESIS I
H0: The
problem of government budget implementation in developing countries has no
significant impact on the economic growth.
HI: The
problem of government budget implementation in developing countries has a
significant impact on the economic growth.
HYPOTHESIS
II
H0: There is no significant relationship between
the independent variable and GDP.
H1: There is
a significant relationship between the dependent variables and GDP.
1.6 SCOPE OF
THE STUDY
The scope
and the coverage of this study have been narrowed down, to cover (21 years).
The study will cover whole of Nigeria and will be limited to an evaluation of
the problem of budgetary implementation in Nigeria using some target variable
to make a generalization such as government budgeted revenue and government
budgeted expenditure.
1.7
LIMITATION OF THE STUDY
To cut down
on the constraint this might be encountered in form of death of data and other
related constraints to a manageable proportion.
There were
constraints such as sourcing of data and financial constraints sourcing of data
from various government institution such as central bank is not an easy task as
these institutions were not ready to co-operate, carrying-out a study of this
nature need a lot of money and as a student, there is always a problem of
inadequate fund.
1.8
DEFINITION OF TERMS
PUBLIC
EXPENDITURE: These are expenditures that government render on some project like
roads, hospitals, street lights, schools, etc.
CAPITAL
RECEIPTS: This refers to loan or grants made to the government. They can be
made by other arms of the government or by international organization.
RECURRENT
REVENUE: These are income received by the government annually by way of
taxation, fines etc.
RECURRENT
EXPENDITURE: These are expenditure on running cost of government such as
salaries and interest on public debts.
ECONOMIC
SERVICES: These are expenditures on productive activities such as agriculture,
fisheries, forestry, transportation and communication.
TRANSFER:
These are expenditure that is made not on direct productive activities;
examples are interest payment on national debt, unemployment benefit, pension
payments, and help to other countries.
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