The stages involved in the government budget process are preparation, enactment, and execution. In preparation, ministries submit estimates to the Ministry of Finance, which prepares the budget. It is then presented to cabinet for approval. Enactment involves presentation to Parliament, discussion, approval of demands for grants, and passage of appropriation and finance bills. Execution entails revenue collection, custody of funds, and distribution of grants according to the approved budget. Oversight committees and the Comptroller and Auditor General audit expenditures.
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.
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.
MEANING
MEANING
DEFINITION
CLASSIFICATION OF PUBLIC EXPENDITURE
CAUSES FOR THE GROWTH OF PUBLIC EXPENDITURE
MEANING
DEFINITION
CLASSIFICATION OF PUBLIC EXPENDITURE
CAUSES FOR THE GROWTH OF PUBLIC EXPENDITURE
MEANING
MEANING
DEFINITION
CLASSIFICATION OF PUBLIC EXPENDITURE
CAUSES FOR THE GROWTH OF PUBLIC EXPENDITURE
MEANING
DEFINITION
CLASSIFICATION OF PUBLIC EXPENDITURE
CAUSES FOR THE GROWTH OF PUBLIC EXPENDITURE
This document presents the results of media analysis of coverage of the Singapore Budget 2012 between Friday 17 February and Wednesday 22 February 2012. The objective of this media analysis was to measure media response to the FY2012 budget announcement in terms of favourability. This study identifies key topics and messages that were communicated in the media discussion.
PowerPoint presentation of 10 Principles of Budgetary Governance including background, consultation process and key contributions. The principles are currently being considered as a draft Recommendation of the OECD Council, underpinning their importance for good governance and inclusive growth.
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Stages involved in the Indian government budget
1. Stages involved in the government
budget
PRESENTED BY ,
GRACE MARIA JOSPEH
2. Origin of budget
Derived from French word ‘Bougette’ meaning ‘leather
bag’.
Bag used by the British chancellor to keep his papers to be
presented to the parliament.
Present sense of the term was used for the first time in 1873.
3. Definition Of 'Budget'
An estimation of the revenue and expenses over a specified
future period of time.
A budget can be made for a person, family, group of people,
business, government, country, multinational organization or just
about anything else that makes and spends money.
4. What is Union
Budget ?According to Article 112 of the Indian Constitution, the Union
Budget of a year, also referred to as the Annual Financial
Statement, is a statement of the estimated receipts and
expenditure of the government for that particular year.
It is presented each year on the last working day of February by
the Finance Minister of India in Parliament.
5. The budget speech of the finance minister is usually
divided in two parts. Part (a) deals with general economic
survey of the country while part (b) relates to taxation
proposals.
The first Union budget of
independent India was presented by
R. K. Shanmukham Chetty on
November 26, 1947
6. Stages Involved In The Government Budget
Preparation of the budget
Enactment of the budget
Execution of the budget
7. 1. Preparation of the budget
The budget contains 3 types of accounts :
a. actual for the preceding year
b. revised budget estimates for the current year
c. budget estimates for the coming year
A government budget is defined as a legal document that is
passed by the legislature, and approved by the chief
executive-or President.
The government budget comprises : (a) revenue budget
(b) capital budget
8. Revenue Budget :
It deals with the revenue aspect of the government
budget. It explains how revenue is generated or collected by the
government and how it is allocated among various expenditure
heads. Revenue budget has two parts:
i. Revenue Receipts
ii. Revenue Expenditures
Capital Budget:
It deals with the capital aspect of the government
budget and it consists of:
i. Capital Receipts
ii. Capital Expenditures
10. Capital Budget :
Capital Budget
Capital
Receipts
Market loans, loans from reserve
bank, foreign loans
Capital
Expenditures
Loans and advances given
by the govt to states, govt
enterprises,corporations,etc
11. Budget is ready for presentation to the parliament
Presented by the finance minister to the cabinet for approval
Prepares budget
Based on the estimated income and expenditure of various
ministries and departments ,sent to the Ministry of Finance
Budget estimates are prepared by the Ministry of Finance
Process In The Preparation Of The Budget
12. 2. Enactment of the budget
This means legalisation of the budget.
Prepared budget is presented by
Finance Minister to the legislature.
The budget is an instrument of parliamentary control over the
financial activities of the govt.
No tax can be levied and no expenditure incurred by the central
govt without the prior approval of the parliament .
13. Steps in the Enactment of the budget
a) Presentation to the parliament
b) General discussion
c) Voting of demands for grants
d) Passing of appropriation bill
e) Passing of the Finance bill
14. 3. Execution Of The Budget
When the budget has passed by the legislature the execution
of the budget begins.
Execution of budget means raising the revenue and
controlling the spending of government departments.
The executive department get a green signal to collect the
revenue and start spending money on approved schemes.
15. Execution of the budget has 3 aspects :
1. Collection of revenue
2. Proper custody of collected funds
3. Distribution of grants
16. The ultimate control over public expenditure is vested with
the parliament.
Three specific committees are constituted by the parliament
to ensure proper control over public expenditure.
a) The Estimate Committee
b) Public Accounts Committee
c) The Committee on Public Undertakings
d) Audit and Accounts Departments
The auditing of public money is controlled by Comptroller
and Audit General.
17. The accounts prepared by the Comptroller and Audit
General are submitted to the president.
Place them before the house
Parliament is the supreme authority in financial matters.
18.
19.
20.
21.
22. Revenue receipts
Tax revenues
income tax, corporate tax, excise,
customs and other duties that the
government levies.
Non-tax
revenue
interest on loans and dividend on
investments like PSUs, fees, and
other receipts for services that it
renders.
Return
23. Revenue expenditure is the payment incurred for the
normal day-to-day running of government departments and
various services, interest charges on debt incurred by
government, subsidies and so on.
Expenditure that does not result in the creation of assets, and
grants given to state governments and other parties are revenue
expenditures.
The difference between revenue receipts and revenue
expenditure is usually negative. This means that the government
spends more than it earns.
Return