This presentation was made by Mitsuhiro Teraoka, Japan, at the 10th OECD-Asian Senior Budget Officials Annual Meeting held in Bangkok, Thailand, on 18-19 December 2014.
In modern industrial economies, the budget is the key instrument for the execution of government economic policies. A government budget is often passed by the legislature, & approved by the chief executive-or president. For example, only certain types of revenue may be imposed & collected. Property tax is frequently the basis for municipal & county revenues, while sales tax &/or income tax are the basis for state revenues, & income tax & corporate tax are the basis for national revenues.
The slide contains all about the union budget of republic of india in a single ppt. it is important for exams like UPSC, SSC, STATE PSC , RAILWAY, and many other exams in india.
In modern industrial economies, the budget is the key instrument for the execution of government economic policies. A government budget is often passed by the legislature, & approved by the chief executive-or president. For example, only certain types of revenue may be imposed & collected. Property tax is frequently the basis for municipal & county revenues, while sales tax &/or income tax are the basis for state revenues, & income tax & corporate tax are the basis for national revenues.
The slide contains all about the union budget of republic of india in a single ppt. it is important for exams like UPSC, SSC, STATE PSC , RAILWAY, and many other exams in india.
One of my last presentations when I was still with DBM (March 2016), on recent fiscal transparency reforms that, apart from improving the Philippines' score in the Open Budget Index, sought to empower citizens in the budget process.
During the preparation phase, the Executive prepares the proposed National Budget. This is followed by the legislation phase where the Congress authorize the General Appropriations Act. In the execution phase, agencies utilize their approved budgets and during the accountability phase the executive phase, agencies utilize their approved, the executive monitor and evaluate the use of the budget
what is budget
Expectations of the public
Conclusions of Budget speech
surprising facts
sasta aur mehanga
plan & Non plan expenses
Capital expenses and revenue expenses
Revenue deficit & Fiscal Deficit
Rajiv Gandhi Equity Saving Scheme
Asset Creation
www.indiabudget.nic.in
Arsalan Yaqoob is a a corporate finance professional by profession and also passionate about transforming organisations and lives; he is dedicated, ambitious and goal-driven trainer with 8 years’ progressive experience in professional training of Business Analysis subjects (E pillars) of CIMA, BMS of ICAP, Strategic Business Leader (SBL) of ACCA.
.........
Almighty ALLAH SWT has equipped him with professional certifications and academic qualification, in professional he is Professional Accounting Affiliate (PAA-ICAP), ACCA Member, PIPFA Member, and CIA (USA) Member and in academic he has completed post-graduation / 16 years of education from Karachi University. His accountancy career was started with big audit firm, first move to industry was with TRG (A high-tech US Based MNC conglomerate) group Companies (namely Digital Globe Services – DGS Group) listed on London Stock Exchange (AIM), at present he is working as a senior finance professional at leading organization in healthcare industry (Services & Pharma Manufacturing, both).
......
As a true transformational trainer his journey has been like a roller coaster from ICAP Inter-firm presentation skills competition to teaching ACCA Paper F4 at Hot FM105; he champed Chartered Accountants’ Students Association Conference 2012 as a lead presenter on Topic “Hope sustains life” – As a professional trainer he is loaded to connect Academia with Corporate Industry, his next big thing is to progress with his methodology and sharing the same in books and videos.
Recent budgeting developments - Ken Takeda, JapanOECD Governance
This presentation was made by Ken Takeda, Japan, at the 12th Annual Meeting of OECD-Asian Senior Budget Officials held in Bangkok, Thailand, on 15-16 December 2016
One of my last presentations when I was still with DBM (March 2016), on recent fiscal transparency reforms that, apart from improving the Philippines' score in the Open Budget Index, sought to empower citizens in the budget process.
During the preparation phase, the Executive prepares the proposed National Budget. This is followed by the legislation phase where the Congress authorize the General Appropriations Act. In the execution phase, agencies utilize their approved budgets and during the accountability phase the executive phase, agencies utilize their approved, the executive monitor and evaluate the use of the budget
what is budget
Expectations of the public
Conclusions of Budget speech
surprising facts
sasta aur mehanga
plan & Non plan expenses
Capital expenses and revenue expenses
Revenue deficit & Fiscal Deficit
Rajiv Gandhi Equity Saving Scheme
Asset Creation
www.indiabudget.nic.in
Arsalan Yaqoob is a a corporate finance professional by profession and also passionate about transforming organisations and lives; he is dedicated, ambitious and goal-driven trainer with 8 years’ progressive experience in professional training of Business Analysis subjects (E pillars) of CIMA, BMS of ICAP, Strategic Business Leader (SBL) of ACCA.
.........
Almighty ALLAH SWT has equipped him with professional certifications and academic qualification, in professional he is Professional Accounting Affiliate (PAA-ICAP), ACCA Member, PIPFA Member, and CIA (USA) Member and in academic he has completed post-graduation / 16 years of education from Karachi University. His accountancy career was started with big audit firm, first move to industry was with TRG (A high-tech US Based MNC conglomerate) group Companies (namely Digital Globe Services – DGS Group) listed on London Stock Exchange (AIM), at present he is working as a senior finance professional at leading organization in healthcare industry (Services & Pharma Manufacturing, both).
......
As a true transformational trainer his journey has been like a roller coaster from ICAP Inter-firm presentation skills competition to teaching ACCA Paper F4 at Hot FM105; he champed Chartered Accountants’ Students Association Conference 2012 as a lead presenter on Topic “Hope sustains life” – As a professional trainer he is loaded to connect Academia with Corporate Industry, his next big thing is to progress with his methodology and sharing the same in books and videos.
Recent budgeting developments - Ken Takeda, JapanOECD Governance
This presentation was made by Ken Takeda, Japan, at the 12th Annual Meeting of OECD-Asian Senior Budget Officials held in Bangkok, Thailand, on 15-16 December 2016
Tools for spending review in Japan and Key performance indicator utilisation ...OECD Governance
Presentation by Toshiaki Hiromitsu, Japan, at the 11th annual meeting of the OECD Senior Budget Officials Performance and Results network, Paris, 26-27 November 2015.
Finance Minister P. Chidambaram presented the interim budget for the fiscal year 2014-15 on Monday, which many believe was on the ‘expected lines’. However, our topic of interest is not the Budget itself, but the associated documents that Finance Minister presented to the parliament. Here’s a look at these documents:
Recent budgeting developments in the MENA region - Adnan Wahab ISSHAQ, Bahrai...OECD Governance
This presentation was made by Adnan Wahab ISSHAQ, ministry of Finance, Bahrain,at the 9th OECD MENA-SBO meeting held in Kuwait City on 12-13 October 2016
Summary of the OECD expert meeting: Construction Risk Management in Infrastru...OECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
Using AI led assurance to deliver projects on time and on budget - D. Amratia...OECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
ECI in Sweden - A. Kadefors, KTH Royal Institute of Technology, Stockholm (SE)OECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
Building Client Capability to Deliver Megaprojects - J. Denicol, professor at...OECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
Procurement strategy in major infrastructure: The AS-IS and STEPS - D. Makovš...OECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
Procurement of major infrastructure projects 2017-22 - B. Hasselgren, Senior ...OECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
ECI Dutch Experience - A. Chao, Partner, Bird&Bird & J. de Koning, Head of Co...OECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
ECI in Sweden - A. Kadefors, KTH Royal Institute of Technology, StockholmOECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
EPEC's perception of market developments - E. Farquharson, Principal Adviser,...OECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
Geographical scope of the lines in Design and Build - B.Dupuis, Executive Dir...OECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
Executive Agency of the Dutch Ministry of Infrastructure and Water Management...OECD Governance
Presented at the OECD expert meeting "Construction Risk Management in Infrastructure Procurement: The Loss of Appetite for Fixed-Price Contracts", held on 17 May 2023 at the OECD, Paris and online.
Presentation of OECD Government at a Glance 2023OECD Governance
Paris, 30 June, 2023
Presentation by Elsa Pilichowski, Director for Public Governance, OECD.
The 2023 edition of Government at a Glance provides a comprehensive overview of public governance and public administration practices in OECD Member and partner countries. It includes indicators on trust in public institutions and satisfaction with public services, as well as evidence on good governance practices in areas such as the policy cycle, budgeting, procurement, infrastructure planning and delivery, regulatory governance, digital government and open government data. Finally, it provides information on what resources public institutions use and how they are managed, including public finances, public employment, and human resources management. Government at a Glance allows for cross-country comparisons and helps identify trends, best practices, and areas for improvement in the public sector.
See: https://www.oecd.org/publication/government-at-a-glance/2023/
The Protection and Promotion of Civic Space: Strengthening Alignment with Int...OECD Governance
Infographics from the OECD report "The Protection and Promotion of Civic Space Strengthening Alignment with International Standards and Guidance".
See: https://www.oecd.org/gov/the-protection-and-promotion-of-civic-space-d234e975-en.htm
OECD Publication "Building Financial Resilience
to Climate Impacts. A Framework for Governments to manage the risks of Losses and Damages.
Governments are facing significant climate-related risks from the expected increase in frequency and intensity of cyclones, floods, fires, and other climate-related extreme events. The report Building Financial Resilience to Climate Impacts: A Framework for Governments to Manage the Risks of Losses and Damages provides a strategic framework to help governments, particularly those in emerging market and developing economies, strengthen their capacity to manage the financial implications of climate-related risks. Published in December 2022.
OECD presentation "Strengthening climate and environmental considerations in infrastructure and budget appraisal tools"
by Margaux Lelong and Ana Maria Ruiz during the 9th Meeting of the OECD Paris Collaborative on Green Budgeting held on 17 and 18 of April 2023 in Paris.
OECD presentation "Building Financial Resilience to Climate Impacts. A Framework to Manage the Risks of Losses and Damages" by Andrew Blazey, Stéphane Jacobzone and Titouan Chassagne. Presented during the 9th Meeting of the OECD Paris Collaborative on Green Budgeting held on 17 and 18 of April 2023 in Paris
OECD Presentation "Financial reporting, sustainability information and assurance" by Peter Welch during the 5th Session during the 9th Meeting of the OECD Paris Collaborative on Green Budgeting held on 17 and 18 of April 2023 in Paris
Presentation "Developments in sovereign green bond markets" by Ms. Fatos Koc during the 4th Session of 9th Meeting of the OECD Paris Collaborative on Green Budgeting held on 17 and 18 of April 2023 in Paris.
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
ZGB - The Role of Generative AI in Government transformation.pdfSaeed Al Dhaheri
This keynote was presented during the the 7th edition of the UAE Hackathon 2024. It highlights the role of AI and Generative AI in addressing government transformation to achieve zero government bureaucracy
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
A process server is a authorized person for delivering legal documents, such as summons, complaints, subpoenas, and other court papers, to peoples involved in legal proceedings.
Presentation by Jared Jageler, David Adler, Noelia Duchovny, and Evan Herrnstadt, analysts in CBO’s Microeconomic Studies and Health Analysis Divisions, at the Association of Environmental and Resource Economists Summer Conference.
Understanding the Challenges of Street ChildrenSERUDS INDIA
By raising awareness, providing support, advocating for change, and offering assistance to children in need, individuals can play a crucial role in improving the lives of street children and helping them realize their full potential
Donate Us
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Recent budgeting developments in Japan - Mitsuhiro Teraoka, Japan
1. Recent Budgeting Developments in Japan
Mitsuhiro Teraoka
Director of Research Division
Budget Bureau
Ministry of Finance, JAPAN
18th December 2014
10th Meeting of ASIAN Senior Budget Officials
2. Japan’s current Policy Agenda
The BOJ introduced Quantitative and Qualitative Monetary Easing (QQE) in April
2013 to achieve the price stability target of 2 % increase in CPI with a time
horizon of about two years.
On October 31, 2014, the BOJ decided the measures comprising:
-Accelerating the pace of increase in the monetary base
(about 60-70 trillion → about 80 trillion)
-Increasing asset purchases (about 50 trillion → about 80 trillion)
-Extending the average remaining maturity of JGB purchases (about 7-10 years)
Achieving both Economic Revitalization and Fiscal Consolidation
1
⇒ Implementing “Abenomics” comprising the following 3 arrows:
(i) Bold Monetary Policy, (ii) Flexible Fiscal Policy, and (iii) Growth
strategy to promote structural reform and private investment.
First arrow: Bold Monetary Policy
3. Japan’s current Policy Agenda
Economic Stimulus Package
-In order to address downside risks to the economy, a fiscal stimulus package
(FY2013 supplementary budget) amounts to 5.5 trillion has been implemented.
-Further, under the current economic situation, a new economic stimulus
package will be prepared by the end of this year.
Fiscal Consolidation
-Consumption tax rate increased (5% to 8%) in April, 2014. The second increase
will be in April, 2017.
-Maintaining the fiscal consolidation target of a primary surplus by FY2020.
-Concrete fiscal consolidation plan for achieving the FY2020 target will be
prepared by next summer.
2
Second arrow: Flexible Fiscal Policy
4. Japan’s current Policy Agenda
Japan Revitalization Strategy 2013, Revision of Japan Revitalization
Strategy 2014 is currently being implemented which includes:
-Corporate tax reduction
・Down to the twenties in several years, first phase reduction will be from
FY2015.
-Enhancing Corporate governance:
・Newly established Japan’s Stewardship Code adopted by 175
institutional investors.
・Currently discussing the formulation of Japan’s Corporate Governance
Code.
3
Third arrow: Growth Strategy
5. Recent Budgeting Developments
1. Establishing highly independent councils for economic and fiscal
policy
⇒ Producing the followings:
-Long-term economic and fiscal projections
-Constructive proposals for basic policies for the economic and
fiscal management as well as fiscal consolidation
2. Introducing accrual-basis accounting
⇒ Producing the ‘Financial Statements of the Government’
in addition to the ‘Settlement of Revenue and Expenditure’
3. Introducing performance budgeting
⇒ Utilizing PDCA cycle in the budget formulation process
4
Enhancing the Transparency, Efficiency and Effectiveness of budget
6. Enhancing the Transparency 1
Enhancing the Transparency of Macroeconomic and Fiscal Outlook
Council on Economic and Fiscal Policy (Cabinet Office)
Advisory body to the Prime Minister on substantive matter for economic and
fiscal policy
Providing a medium-term fiscal framework
Producing long-term economic and fiscal projections twice a year
⇒ Based on Economic revival case (2% real GDP growth) and Reference case (1% growth)
Fiscal System Council (Ministry of Finance)
Advisory body to the Minister of Finance on fiscal policy issues
Around 30 members such as academics, business leaders, and lawyers, etc.
Providing constructive proposals for fiscal consolidation including expenditure
cuts
Ensuring the independence from the government
⇒ Both councils’ members include academics, business leaders and experts
Enhancing the credibility of macroeconomic outlook and the effectiveness of
fiscal consolidation measures 5
7. Enhancing the Transparency 2
Settlement of Revenue and Expenditure
Prepared based on the Public Finance Act
Cash-basis accounting and single-entry accounting utilized
⇒ Satisfy the requirement by the Constitution of Japan
Article 83. The power to administer national finances shall be exercised as the Diet shall determine
Financial Statements of the Government
Since FY2003, voluntarily prepared in addition to the above Settlement
Accrual-basis accounting and double-entry accounting introduced
⇒ Clearly disclose the actual stock and flow of government account
but……
Issues for accrual-basis accounting
Less certainty, Less objectivity, Less transparency in some cases……
⇒ Additional cost incurred in terms of preparing the statement
Enhancing the Government’s Financial Accountability
6
⇒ By utilizing accrual-basis accounting to additionally produce
‘Financial Statements of the Government’.
8. Enhancing the Efficiency and Effectiveness
Implementing Performance Budgeting
Plan: Planning the budget
Do: Executing the budget
Check: Evaluating the budget execution
Action: Making use of evaluation results for budgetary
planning
Plan
Do
Check
Action
National Audit
Conducted by the Board of Audit (Independent of
the Cabinet and the Diet)
Based on the Constitution and the Board of Audit
Act
Constantly auditing and supervising the public
accounts from the aspects of accuracy, regularity,
economy, efficiency and effectiveness, etc.
209.6 billion reflected in FY2014 budget 7
⇒ By utilizing the PDCA cycle in the budget formulation process.
9. Enhancing the Efficiency and Effectiveness
Policy Evaluation
(since FY2002)
Conducted by Ministry of Internal Affairs and
Communications & Line ministries
Ministries set organizational policy goals and
assess achievements
Based on the Government Policy Evaluations Act
Evaluating policies from the standpoints of
necessity, efficiency, effectiveness, etc.
27.0 billion reflected in FY2014 budget
Budget Execution
Surveys
(since FY2002)
Conducted by Ministry of Finance
Conducting the survey of selected policy programs
by officials of the Budget Bureau of MOF including
budget examiners
26.3 billion reflected in FY2014 budget
Administrative
Programs Review
(since FY2010)
Conducted by Cabinet Secretariat & Line ministries
Based on the Cabinet decision
Conducting comprehensive review of all policy
programs (over 5,000 programs)
280 billion reflected in FY2015 budget request
8
10. The Government aims to improve the primary balance of the
General Account at least by approximately 4 trillion yen both
in FY2014 and 2015 (”Medium-Term Fiscal Plan” (Approved
by the Cabinet on August 8, 2013))
FY2014~
2015
The Government aims to halve the primary deficit of the
national and local governments to GDP ratio (▲3.3%) by
FY2015 from the ratio in FY2010 (▲6.6%)
FY2015
The Government aims to achieve a primary surplus by FY2020FY2020
The Government will seek to steadily reduce the public debt
to GDP ratio
Thereafter
→ In the FY2014 budget, primary balance is improved by 5.2 trillion
yen , more than targeted in the “Medium-Term Fiscal Plan”
Fiscal Consolidation Targets
9
Reference 1
11. -6.6
-6.2
-5.1
-3.2
-2.4
-1.8
-2.7 -2.9
-12.0
-10.0
-8.0
-6.0
-4.0
-2.0
0.0
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
(%)
●:Economic Revival Case (3% Nominal GDP growth, 2% Real GDP growth)
◆:Reference Case (2% Nominal GDP growth, 1% Real GDP growth)
▲:PBTargetofCentralandLocalGovernments
Primary Surplus
-3.3
(FY)
Source: Cabinet Office
※ This projection assumes that the second consumption tax increase is to be on October 2015.
Primary Balance of the Central and Local Governments
10
Reference 2
(Ratio to nominal GDP)