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PROCESS IN INDIA
THE B
UDGET
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Y
BUDGET
UDGETAR
ARY
PR
OCESS IN INDIA
PROCESS
IAS ACADEMY
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CHRONICLE
Public Account
i) Consolidated Fund,
CHARGED EXPENDITURE
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Capital Budget
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PARLIAMENTARY APPROVAL
The estimates of expenditure prepared by
ministries/departments are transmitted to the
Ministry of Finance by December where these
are scrutinized, modified where necessary and
consolidated. The estimates of revenue are also
prepared by the Finance Ministry and thus the
budget is finalized. The budget is presented to
the Parliament generally on the last working
day of February. In the first stage, there is a
general discussion on the broad economic and
fiscal policies of the government as reflected in
the budget and the Finance Ministers speech.
This lasts about 20-25 hours.
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BUDGET PREPARATION
Accounts classification
Budget estimates of the current year
Revised estimates of the current year
Actual for the previous year; and
Proposed estimates for the next financial
year (which is the budget proper).
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