Performance budget is a system of presentation of public expenditure in terms of function, programmes, activities and project are reflecting primarily the government output and its cost. The main thrust of performance Budget is to provide output oriented budget information within a long range perspective so that resources could be allocated more efficiently and effectively.
Author: ForumIAS
What is legislative budget? and What is executive budget?
Legislative budget When budget is prepared by a committee of the legislature on the request of executive, it is known as legislative budget. Executive budget In this system budget is prepared by the executive and after it has been approved by the legislature, responsibility for its execution lies with the executive.
What is long-term budget?
In this type of budget, government plans for years of development and improvement required through budgeting. While the annual budget happens yearly long term budget is planned for few years. For ex – 5 to 10 years of Research and Development Budget, Capital Expenditure Budget, etc. This has few advantages like focus on long term… Continue reading What is long-term budget?
What is Annual budget?
Usually public budgeting happens once in a year because it enables the legislature to exercise a closer control over the activities of the government. This is called Annual budget. This is known as financial year. In India it starts from 1st April and ends on 31st March.
Principles and Objectives of budget
WHAT ARE THE PRINCIPLES OF BUDGET? Periodicity- Appropriation should be authorized for a definite period of time Publicity- All stages of budget executive recommendation, legislative consideration and budget execution should be made public Accuracy- Budget estimates should be as accurate as possible Clarity- The budget should be understandable to every citizen Comprehensiveness- The budget should… Continue reading Principles and Objectives of budget
Introduction and concept of Budget
Introduction: Finance is the life blood of a country. It works as the fuel to the engine of governance. No government can function without finance. The greater the finance available the more is the government activities and budget is the tool to make the finance available for various sectors of the economy. Concept of Budget:… Continue reading Introduction and concept of Budget
Why Corporate houses should not own banks?
Context: Granting license to corporates to promote banks will be disastrous to the economy as a whole. Background Recently, the RBI constituted an Internal Working Group to determine if large corporate houses can be given licence to promote banks. The Internal Working Group recommended to allow corporate houses to operate banks. What are the concerns… Continue reading Why Corporate houses should not own banks?
Farmer’s protest
Context – Massive communication failure on the part of the central government to explain to farmers what these laws are, and how they are intended to benefit them. What is the farmer’s and States concern with regard to new farm laws? Farmer’s fear- This could corporatize agriculture, threaten the current mandi network and State revenues and dilute… Continue reading Farmer’s protest
Origin of COVID-19
Context: WHO must work alongside China in quickly uncovering the origins of the virus. Uncovering the origin of corona virus is shrouded in mystery due to various factors. Discuss. Origin of the virus: In the case of the novel coronavirus (SARS-CoV-2), its source is still unknown even 11 months after WHO reported the first case.… Continue reading Origin of COVID-19
India hosted the SCO heads of governments (HoG) meeting
Context: Three years after joining the eight-nation Shanghai Cooperation Organisation (SCO), India hosted the SCO heads of governments (HoG) meeting for the first time. How does the SCO serve India’s quest for geopolitical balance and regional engagement? The focus: The focus of the 66-point joint statement was in developing a “Plan of Priority Practical Measures… Continue reading India hosted the SCO heads of governments (HoG) meeting
