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The list of Budget documents presented to the Parliament, besides the Finance Minister's Budget
Speech, is given below:
A. Annual Financial Statement (AFS)
B. Demands for Grants (DG)
C. Finance Bill
D. Statements mandated under FRBM Act:
i. Macro-Economic Framework Statement
ii. Fiscal Policy Strategy Statement
iii. Medium Term Fiscal Policy Statement
E. Expenditure Budget
2. In addition to the above, the Department of Expenditure in the Ministry of Finance in collaboration with
NITI Aayog from the financial year 2017-18, is preparing the consolidated Outcome Budget for all Ministries
and Departments. Further individual Departments/Ministries also prepare and present to the Parliament their
Detailed Demands for Grants and their Annual Reports. The Economic Survey which highlights the economic
trends in the country and facilitates a better appreciation of the mobilization of resources and their allocation
in the Budget is brought out by the Economic Division of the Department of Economic Affairs, Ministry of
Finance. The Economic Survey is presented to the Parliament ahead of the Union Budget. The web versions
of these documents are normally posted by the respective Ministries/Departments on their web sites.
3.1 A brief description of the Budget documents listed in para 1 is given below.
A. Annual Financial Statement (AFS)
The Annual Financial Statement (AFS), the document as provided under Article 112, shows the estimated
receipts and expenditure of the Government of India for 2018-19 in relation to estimates for 2017-18 as also
actual expenditure for the year 2016-17. The receipts and disbursements are shown under three parts inwhich Government Accounts are kept viz.,(i) The Consolidated Fund of India, (ii) The Contingency Fund of
India and (iii) The Public Account of India. The Annual Financial Statement distinguishes the expenditure on
revenue account from the expenditure on other accounts, as is mandated in the Constitution of India. The
Revenue and the Capital sections together, therefore make the Union Budget. The estimates of receipts and
expenditure included in the Annual Financial Statement are for expenditure net of refunds and recoveries. The
Union Government Finance Accounts also reflect expenditure in a similar manner.
The significance of the Consolidated Fund, the Contingency Fund and the Public Account as well as the
distinguishing features of the Revenue and the Capital portions are given below briefly:
(i) The Consolidated Fund of India (CFI) draws its existence from Article 266 of the Constitution. All
revenues received by the Government, loans raised by it, and also receipts from recoveries of loans
granted by it, together form the Consolidated Fund of India. All expenditure of the Government is
incurred from the Consolidated Fund of India and no amount can be drawn from the Consolidated
Fund without due authorization from the Parliament.
(ii) Article 267 of the Constitution authorises the existence of a Contingency Fund of India which is an
imprest placed at the disposal of the President of India to facilitate meeting of urgent unforeseen
expenditure by the Government pending authorization from the Parliament. Parliamentary approval
for such unforeseen expenditure is obtained, ex- post-facto, and an equivalent amount is drawn from
the Consolidated Fund to recoup the Contingency Fund after such ex-post-facto approval. The corpus
of the Contingency Fund as authorized by Parliament presently stands at `500 crore.
(iii) Moneys held by Government in trust are kept in the Public Account. Provident Funds, Small Savings
collections, income of Government set apart for expenditure on specific objects such as road
development, primary education, other Reserve/Special Funds etc., are examples of moneys kept in
the Public Account. Public Account funds that do not belong to the Government and have to be finally
paid back to the persons and authorities who deposited them, do not require Parliamentary authorisation
for withdrawals. of
India, is treated as revenue expenditure. All grants given to the State Governments/Union Territories
and other parties are also treated as revenue expenditure even though some of the grants may be
used for creation of capital assets. Revenue expenditure which results in the creation of capital
assets is reduced from revenue deficit to arrive at the Effective Revenue Deficit (ERD).
friend let's go for the answer....
The list of Budget documents presented to the Parliament, besides the Finance Minister's Budget
Speech, is given below:
A. Annual Financial Statement (AFS)
B. Demands for Grants (DG)
C. Finance Bill
D. Statements mandated under FRBM Act:
i. Macro-Economic Framework Statement
ii. Fiscal Policy Strategy Statement
iii. Medium Term Fiscal Policy Statement
E. Expenditure Budget
2. In addition to the above, the Department of Expenditure in the Ministry of Finance in collaboration with
NITI Aayog from the financial year 2017-18, is preparing the consolidated Outcome Budget for all Ministries
and Departments. Further individual Departments/Ministries also prepare and present to the Parliament their
Detailed Demands for Grants and their Annual Reports. The Economic Survey which highlights the economic
trends in the country and facilitates a better appreciation of the mobilization of resources and their allocation
in the Budget is brought out by the Economic Division of the Department of Economic Affairs, Ministry of
Finance. The Economic Survey is presented to the Parliament ahead of the Union Budget. The web versions
of these documents are normally posted by the respective Ministries/Departments on their web sites.
3.1 A brief description of the Budget documents listed in para 1 is given below.
A. Annual Financial Statement (AFS)
The Annual Financial Statement (AFS), the document as provided under Article 112, shows the estimated
receipts and expenditure of the Government of India for 2018-19 in relation to estimates for 2017-18 as also
actual expenditure for the year 2016-17. The receipts and disbursements are shown under three parts inwhich Government Accounts are kept viz.,(i) The Consolidated Fund of India, (ii) The Contingency Fund of
India and (iii) The Public Account of India. The Annual Financial Statement distinguishes the expenditure on
revenue account from the expenditure on other accounts, as is mandated in the Constitution of India. The
Revenue and the Capital sections together, therefore make the Union Budget. The estimates of receipts and
expenditure included in the Annual Financial Statement are for expenditure net of refunds and recoveries. The
Union Government Finance Accounts also reflect expenditure in a similar manner.
The significance of the Consolidated Fund, the Contingency Fund and the Public Account as well as the
distinguishing features of the Revenue and the Capital portions are given below briefly:
(i) The Consolidated Fund of India (CFI) draws its existence from Article 266 of the Constitution. All
revenues received by the Government, loans raised by it, and also receipts from recoveries of loans
granted by it, together form the Consolidated Fund of India. All expenditure of the Government is
incurred from the Consolidated Fund of India and no amount can be drawn from the Consolidated
Fund without due authorization from the Parliament.
(ii) Article 267 of the Constitution authorises the existence of a Contingency Fund of India which is an
imprest placed at the disposal of the President of India to facilitate meeting of urgent unforeseen
expenditure by the Government pending authorization from the Parliament. Parliamentary approval
for such unforeseen expenditure is obtained, ex- post-facto, and an equivalent amount is drawn from
the Consolidated Fund to recoup the Contingency Fund after such ex-post-facto approval. The corpus
of the Contingency Fund as authorized by Parliament presently stands at `500 crore.
(iii) Moneys held by Government in trust are kept in the Public Account. Provident Funds, Small Savings
collections, income of Government set apart for expenditure on specific objects such as road
development, primary education, other Reserve/Special Funds etc., are examples of moneys kept in
the Public Account. Public Account funds that do not belong to the Government and have to be finally
paid back to the persons and authorities who deposited them, do not require Parliamentary authorisation
for withdrawals. of
India, is treated as revenue expenditure. All grants given to the State Governments/Union Territories
and other parties are also treated as revenue expenditure even though some of the grants may be
used for creation of capital assets. Revenue expenditure which results in the creation of capital
assets is reduced from revenue deficit to arrive at the Effective Revenue Deficit (ERD).
sanjaykumar1810:
hi bhai
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