ECONOMICS

Detailed explanation-1: -Participative budgeting (PB) is a budgeting method that allows people in the lower levels of management to participate in the budget creation process. It gives employees a greater sense of ownership and control over the resulting budget.

Detailed explanation-2: -What is Participatory Budgeting? Participatory Budgeting (PB) is a democratic process in which community members directly decide how to spend part of a public budget.

Detailed explanation-3: -Participative budgeting is a budgeting process in which the people who are in the lower levels of management are involved in the budget preparation process.

Detailed explanation-4: -Participatory Budgeting (PB) is a citizen engagement process through which community members decide how to allocate a portion of a public budget. Citizens make direct decisions about how government money is spent in their community by identifying and prioritizing public spending projects.

Detailed explanation-5: -Participatory budgeting means that all levels of management responsible for actual performance actively participate in setting operating goals for the coming period. Managers and other employees are more likely to understand, accept, and pursue goals when they are involved in formulating them.