Question

which of the following is concerned with division of economic responsibility between the central and state government in India state​

Answer 1

ANSWER :-

The Budget Division is responsible for the preparation and submission to Parliament of the Central Governments Budget other than Railways, as well as the supplementary Demands for Grants and Demands for Excess Grants. The Budget and Supplementary and Excess Demands of State and Union Territories under the Presidents Rule are also dealt with in this Division. Besides, this Division is responsible for dealing with all issues relating to Public Debt, market loans of the Central Government and the fixation of terms & conditions of lending by the Central Government, fixing the administered interest rates and keeping a watch on the Ways and Means position of the Central Government The Division also deals with the matters relating to National Savings Organisation and Small Savings Schemes, Duties, Powers and Condition of Service of the Comptroller and Auditor General of India, Accounting procedures and Classification, dealing with issues relating to National Defence Fund, Railways Convention Committee and Central Road Fund. Budget Division also performs the functions in relation to the administration of Fiscal Responsibility and Budget Management (FRBM) Act, 2003, as Amended in 2012 and the Rules framed thereunder.

2. The work relating to Treasurer Charitable Endowment is also handled in the Budget Division. The Charitable Endowment Act, 1890 provides that where property is held or is to be applied in Trust for charitable purposes, the Central Government, if it thinks fit, may, on application made, order that the property be vested in a Treasurer Endowments on such terms as to the application of the property or the income there of as may be agreed on between the Government and the persons(s) making the application. Presently, this appointment is held by Deputy Secretary/Director (Budget).