The role of the budget in the development of the rule-of-law state

The article is dedicated to the study of the role of the budget in the development of the rule-of-law state. The budget, in the modern sense, is a centralised monetary fund that can be used by the state operating in certain areas of its activities. Objective, historically formed interrelation between the state and the budget is well recognised in the financial academic literature, particularly, the need for centralisation of financial resources to ensure safe circulation of funds throughout the economy and provide social support is spoken about. The right of a state and its territorial subdivisions to an independent budget gives the opportunity to have the necessary amount of rights to receive certain revenues, resulting in creating conditions for the realisation of socio-economic development programmes of the respective territories, the implementation of a wide range of universally valid tasks, which, of course, promotes the rule-of-law state formation in the Russian Federation.