Professional Documents
Culture Documents
Name : Ritika
Year & Semester : 2nd year, 3rd sem.
Roll no. : 63
Department : BBE
BUDGETARY PROCEDURE :
1. Preparation of the Budget.
2. Enactment of the Budget.
3. Execution of the Budget.
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• The day on which Finance minister present the budget in the parliament on last
Feburary called Budget Day.
• The enchantment of budget is made on two stages :
• 1st stage : general discussion on the board economic and fiscal policy of the government
reflected in the budget and Finance Minister’s speech.
• 2nd stage : detailed discussion on the demand for grant with respect to specific ministers and
departments which is voted separately. Its not possible to have detailed discussion over each
demand seperately. The demand that cannot be so discussed are clubbed together and put to vote
of the Parliament at the end of the period alloted for discussion.
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• The demand for grant us submitted to the Lok Sabha.
• After the demand for grant is voted by the Lok Sabha, Parliament approval to
withdraw from the Consolidated Fund the amount so voted and the amount required
to meet the expenditure charged on Consolidated fund sought by the Appropriation
Bill.
• The Appropriation Bill after receives the assent from the President it becomes the
Appropriation Act.
• Appropriation Bill is passed on the close of Financial year.
• The proposal of government levy on new taxes, modification of existing taxes or
continuing of existing taxes are submitted to the Parliament in the form of Financial
Bill
• The financial bill passed by the Parliament.
• This empower the government to collect taxes for a period of 75 days till the
Financial Bill is passed and comes into effect.
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CONCLUSION :
Budgetary procedure is the most important constituent of the
financial administration. It is the format of the Government plans.
It is the instrument through which the Government controls the
entire economy.
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REFERENCE
• BOOK : Tyagi, B.P., Public Finance, Jai Prakash Nath & Co., Garh-Nauchandi Chauraha,
Garh Road, Meerut-250002 (UP.), 2010-11
• DEFINITION : https://youtu.be/YPlr9QxbV50
• EXAMPLE : https://prsindia.org/budgets/parliament/union-budget-2021-22-analysis
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