Financial administration, meaning and importance of budget


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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