Have you ever wondered while watching a news broadcast, "Wait is this Finance Bill or the Budget?" Here is the right explanation to clear the confusion. Although these two terms are frequently used interchangeably, they have quite different meanings.

Let's say you are organizing a road trip. The budget is your travel plan, including where you want to go and how much you'll need for lodging, food, and transportation. Your financial plan, however, is the Finance Bill. You have a plan to pay for the trip, such as selling an old item, borrowing money from a friend, or finding other ways to save money.

Kenya's national budget describes the government's spending objectives for the year, including how much will be allocated to infrastructure, salaries, health care, and other boards for financial vision.

To demonstrate how the government intends to raise the money to support this vision, the Finance Bill is then introduced. It suggests, tax cuts or increases, new tax modifications to income tax, excise, or customs laws, and modifications to the tax exemption eligibility.

The budget wouldn't have any funding if it weren't for the Finance Bill. It's important to comprehend this distinction. Depending on your industry, the budget may give you hope or cause you to worry, but the Finance Bill is what will decide whether those plans are painful or attainable. Because of this, the Finance Bill is frequently the subject of more intense public scrutiny.

Therefore, consider this like are we discussing the government's goals or their financial plans?