The basic principles of budgeting are to be translated in such a way that the government keeps up its commitment in the overall applied budget framework to enhance the transparency, accountability and participation to its optimum measure, by involving all the stake holders, specially the civil society organizations and other public bodies. This is also known as participatory budget. The applied budget work is founded on the following:

Transparency:
The increased transparency of budget information brings in greater accountability and participation.

Accountability:
Once the budget information is easily made available, the accountability of the government is ensured through ensuing public debate, which results in enhanced trust in the government.

Participation:
Dissemination of all the budget information in an understandable language and user-friendly formats will go a long way in creating an environment for participation of all the stakeholders. The civil society organizations should have capacity to effectively participate at all the stages of the budget life cycle i.e. budget formulation, enactment, execution and assessment.
The budget may be analysed from the following four standpoints:

Adequacy:
Whether amount allocated is enough to meet the cost of commitment; 

Priority:
How does the budget proposed for a given area / scheme compare to the resources proposed to be spent on other areas / schemes;

Progress:
Monitor the priorities of the government in terms of budget allocation over a period of time and note any changes;

Equity:
Fairness of allocation of resources across geographic areas, different sections of society, etc.