Write a very short note on Participatory budgeting.

Participatory budgeting (PB) is a democratic and inclusive approach to decision-making in public finance, allowing citizens to actively participate in determining the allocation of budgetary resources. This innovative process empowers community members to directly engage in shaping local budgets, contributing to a more transparent and responsive form of governance.

In participatory budgeting, community members are invited to propose and prioritize projects or programs that address local needs and concerns. These proposals are then discussed, debated, and voted on in community meetings. The projects with the highest support are included in the final budget, ensuring that public resources are allocated based on the collective preferences and priorities of the community.

Participatory budgeting promotes civic engagement, enhances transparency, and fosters a sense of community ownership over public resources. It not only democratizes decision-making but also strengthens the social fabric by encouraging collaboration and dialogue among diverse community members.

Originating in Porto Alegre, Brazil, in the late 1980s, participatory budgeting has gained global recognition as a model for enhancing local democracy and citizen participation. It has been implemented in various cities worldwide, offering a tangible way to bridge the gap between citizens and government in the budgetary process.