The key to budget documents outlines the various documents that the Finance Minister must present along with the annual budget. These include the annual financial statement, demands for grants, appropriation bill, finance bill, and various policy statements on the macroeconomic framework, fiscal policy, medium-term fiscal outlook, and expenditure. Supplementary documents provide details on estimated receipts and expenditures, tax proposals, sector achievements, and summaries.

1. KEY TO BUDGET DOCUMENTS
THE LIST OF ASSOCIATED DOCUMENTS THE
FINANCE MINISTER HAS TO PRESENT APART
FROM THE BUDGET ITSELF.

2. Annual Financial Statement
• The document shows the estimated receipts and
expenditure of the government in the current year in
relation to estimates for the previous.
• The document also distinguishes expenditure on
revenue account from other expenditure.
• The document has three parts:
• Consolidated Fund
• Contingency Fund
• Public Account

3. Demands for Grants
• The Demands for Grants is presented to the Lok
Sabha along with the Annual Financial Statement.
• Each Ministry or Department presents a Demand for
Grants, which needs to be voted by the Lok Sabha.

4. Appropriation Bill
• The Vote on Account is obtained from Parliament
through an Appropriation Bill.
• The purpose of the Vote on Account is to keep
Government functioning, pending voting of final
supply.

5. Finance Bill
• The document details the imposition, abolition,
remission, alteration or regulation of taxes proposed
in the Budget.

6. Memorandum Explaining the Provisions in the
Finance Bill
• The Memorandum Explaining the Provisions of the
Finance Bill helps in understanding the taxation
proposals contained in the Finance Bill, the
provisions and their implications.

7. Macro-economic Framework Statement
• The document contains assessment regarding the
GDP growth rate, fiscal balance of the Central
Government and the external sector balance of the
economy.

8. Fiscal Policy Strategy Statement
• The statement describes the strategic priorities of
government in the fiscal area for the ensuing financial
year relating to taxation, expenditure, lending and
investments, administered pricing, borrowings and
guarantees.

9. Medium-term Fiscal Policy Statement
• The statement sets out three-year rolling targets for
four specific fiscal indicators in relation to GDP at
market prices namely
•
•
•
•
Revenue Deficit
Fiscal Deficit
Tax to GDP ratio
Total outstanding Debt at the end of the year

10. Medium-term Expenditure Framework
Statement
• The statement sets forth a three-year rolling target for
the expenditure indicators and provides a closer
integration between budget and the Fiscal
Responsibility and Budget Management (FRBM)
statements.

11. Expenditure Budget Volume-1
• The document outlines the revenue and capital
disbursements of each Ministries/Departments.
• It also provides broad reasons for the variations in
estimates.

12. Expenditure Budget Volume-2
• The document shows the net estimate made for a
scheme or a programme at a glance, using Major
Heads.
• In the Demand for Grants, the provisions made for a
scheme or programmes are spread over a number of
Major Heads in the Revenue and Capital sections.

13. Receipts Budget
• The Document explains details of tax and non-tax
revenue receipts and capital receipts.
• It also provides information on arrears of tax
revenues and non-tax revenues. Other documents
include:
• Statement pertaining to National Small Savings
Fund
• Statement of revenues foregone
• Statement of liabilities
• Statement of guarantees
• Statements of assets and details of external
assistance

14. Budget at a Glance
• The document includes receipts and disbursements
along with broad details of tax revenues and other
receipts.
• It also shows the broad break-up of expenditure Plan and Non-Plan.
• It also has a statement that includes the share of
Central Taxes, grants/loan of the total resources
transferred to States and Union Territories.

15. Highlights of Budget
• The document outlines major achievements in
different sectors and key features of the Budget.
• It also contains the summary of tax proposals.