Government budget is an annual financial revenue and expenditure plan approved by state power organs in accordance with legal procedures, and it is an important tool for the government to organize and standardize financial distribution activities.
Legal basis: According to Article 5 of the Budget Law, the budget includes general public budget, government fund budget, state-owned capital operation budget and social insurance fund budget. The general public budget, government fund budget, state-owned capital operation budget and social insurance fund budget should remain complete and independent. Government fund budget, state-owned capital operation budget and social insurance fund budget should be connected with the general public budget.
Since 2007, China's government budget management has formally adopted a new classification system of government revenue and expenditure, including revenue classification, expenditure function classification and expenditure economic classification. The setting of revenue and expenditure ledger accounts is refined step by step to meet the management needs of different levels. On the basis that the functional classification of expenditure clearly reflects the government's functional activities, the economic classification of expenditure clearly reflects where the government's money is spent. Economic classification of expenditure and functional classification of expenditure reflect government expenditure activities from different aspects and in different ways.