In a country in which the national budget constitutes a substantial percentage of the GNP, over time the policy decisions on both revenues and expenditures have far reaching implications for the well-being of the people and their economy. Taxation measures, including the grant of tax incentives to specific types of industries, have an important effect on the pattern of development in the economy. On the expenditure side, budget allocation decisions in relation to the choice of programs and their beneficiaries have a significant impact on equity, economic growth, employment, manpower development, and the standard of living for the masses. In short, whether the financial policies embodied in the budget of a country relate to revenue measures or expenditure programs, by virtue of its size and impact, budgeting has implications for all.