Social and economic development and budget regulation in the Russian Federation

The article describes the features of the budgetary policy of the Russian Federation in the social sphere at the present stage. The purpose of the study is to determine the nature of the socially oriented budget expenditures, to examine the current problems and define the main goals of improving the efficiency of state social policy under the conditions of the economic recession. The article also describes the features of social and economic policy at the regional level, revealed the difficulties faced by the authorities in the management of the regional budget. The authors offer the proposals to overcome such difficulties through the reduction the ineffective budget expenditures and the increase tax revenues in the local budgets of the Russian Federation. The study shows the system of interaction between the federal and regional levels of the Russian budget system in solving social problems. The article highlights the forms of financial assistance from the federal budget, as well as priorities for budget spending in the social sphere.