Presenting the Budget Research Paper Example | Topics and Well Written Essays - 1000 words

Presenting the Budget - Research Paper Example The government needs $3,117 million in 2015 and $3,070 in excess of the revenue to cover the expenses. However, in 2016 the growth rate of the revenue is greater than the growth rate in expenses. The growth rates of all the expenses mentioned above were computed together with the amount in dollars expected to increase. Highest growing category of the expenses is fringe benefits. In the year 2012-2013 these expenses will grow at the rate of 5.22% or $418 million in amount. Further increase in expected in the following years and the growth rate is expected to rise to 6.74% in 2013-2014 and ultimately 6.98% in the last year of projection. Fringe benefits include compensation beyond salary or benefits in kind. There are other expense as well which do not look significant in percentage but amount increased is significant. For example salaries and wages only increase by 0.55% in 2013-2014 but the amount increase is $119 million. Similarly growth rate in the last year so only 1.71% but the amount increase is $376 million. Another important area of the expense to be discussed is the amount increase in the lease and debt services. In 2012-2013 total increase is $656 million and percentage increase is 12.01% but the growth rate falls in the subsequent years and reached to 3.86% in the last year but still the amount in Dollar increases. Some of the expense shows no permanent trends like pensions of projections expenses and medical assistance. These are expected to be increase and decrease in all years of projections. In 2013 there is an increase of $100 million in the pension expenses and in 2014 the increases in expected to be only $52 million as compared to 2013 and next years there is a decline of $108 million. Similar is the situation with the medical assistance. General property tax is expected to be $17,917 in 2012 which constitute around 26.33% of the total revenue in the first year of