The budget of a country mainly covers the policies on various sectors of the country's
economy.
The world economy has grown by around 4.5 percent for the year 2005 and 2006.
The impressive growth of the world economy is largely led by China, India and Russia.
Though the economic progress is satisfactory, still the world economy suffers a lot
from various social problems. The world economy has been largely suffering from the
problems of infant mortality rates, and various types of diseases. As in the year
2006, there were a total numbers of 48.87 deaths per 1,000 live births. This has been a
major global challenge. To meet these respective challenges, budget of a nation has larger
role to play.
Budget practices and budget highlights in various countries over the world are as follows:
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