Author: ForumIAS

Vote on Account is a grant in advance to enable the government to carry on its business ceaselessly until the voting of demands for grants and the passing of the Appropriation Bill and Finance Bill. In general it means, funds provided to run the government until budget bills(Finance and Appropriation Bills) are passed in Parliament.

Members can also move motions to reduce any demand for grant. Such motions are called as ‘cut motion’, which are of three kinds: (a) Policy Cut Motion It represents the disapproval of the policy underlying the demand. It states that the amount of the demand be reduced to Re 1. The members can also advocate… Continue reading What are various Cut motions ? [policy cut, token cut, economy cut]

In the light of the reports of the departmental standing committees, the Lok Sabha takes up voting of demands for grants. The demands are presented ministry wise. A demand becomes a grant after it has been duly voted. Two points should be noted in this context. The voting of demands for grants is the exclusive… Continue reading Voting on Demand for Grant

The Finance Minister presents the General Budget with a speech known as the ‘budget speech’. At the end of the speech in the Lok Sabha, the budget is laid before the Rajya Sabha, which can only discuss it and has no power to vote on the demands for grants. few days later general discussion will… Continue reading Presentation and scrutiny of budget

Enactment The Constitution of India contains the following provisions with regard to the enactment of budget: The President shall in respect of every financial year cause to be laid before both the Houses of Parliament a statement of estimated receipts and expenditure of the Government of India for that year. No demand for a grant… Continue reading How budget is enacted?

Formulation The responsibility for formulating the budget estimates rests on the executive. Generally budget preparation starts in the month of September of the previous year. General Budget contains estimated receipts and expenditure for one year usually. It has three sets of figures, such as Actual figure of the previous year Budget and Revised figure for… Continue reading How budget is formulated?