Financial administration, 04 42 meaning and importance of budget
Statement of accounts of
income and expenditure. Estimate of future requirements for finance calculated
for a definite period. Anticipated revenue.
..Schemes for action
..simply estimates
Types of budget
..Single plural
..annual long term
..surplus. Deficit.
Balanced
..cash. Revenue. Accrual
based
..department or
performance budget
Govt accounts
..consolidated fund. All
revenue received by government. Salary allowances President. Speaker judge. Chairman and deputy
chairman of rajyasabha.
..salary allowances pension of cag
..contingency fund .
expenditure in emergency
..public account
Provident fund. Deposits
,.,
1. Preparation of budget
2.authorization of
legislative
3.execution of budget
4.accounting
5.audit.
6.parliamentary control
over public finance
Preparation of budget.
Executive responsibility. .estimate of expenditu emergency e. Drawing and
disbursing officer. Consolidation.Dept
head.
Factual Verification by
cag. ..analysis by ministry of finance. Submission to cabinet. Approval
Contents of expenditure in
budget
..standing charges. Admin
exp
..continuing scheme
..new scheme
Estimates of revenue
Legislature
..presentation to
legislature
..general discussion
..voting for demand for
grants
.policy cut Rs.1. Economy
cut(amount of demand be reduced by a specific amount) .token cut(related to
specific grievance. Rs.100)
..consideration and passing
of appropriation bill (sum of voted demands and charged expenditure). No
amendment
..finance bill. Taxations
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