ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Bottom-up budgeting is often referred to as participative budgeting since managers from each department need to help create the budget. Companies use bottom-up budgeting to ensure each individual department is getting enough funding for their wants and needs.

Detailed explanation-2: -Participatory budgeting is a form of citizen participation in which citizens are involved in the process of deciding how public money is spent. Local people are often given a role in the scrutiny and monitoring of the process following the allocation of budgets.

Detailed explanation-3: -What is bottom up budgeting? Bottom up budgeting is a form of financial budgeting where a company allows each department to set their own budget. Each department creates a list of expenses and cost projections, which is then submitted for review from senior management.

Detailed explanation-4: -A top-down budgeting approach is generally faster than a bottom-up method-and at the same time can create organizational transparency into business-wide spending.