Indian Budget

Topics: Public finance, Tax, Generally Accepted Accounting Principles Pages: 4 (897 words) Published: April 7, 2013
Page 1 of 5

A Glossary of Indian Budget Terms

Page 2 of 5

Appropriation Bill: It is presented to Parliament for its approval, so that the government can withdraw from the Consolidated Fund the amounts required for meeting the expenditure charged on the Consolidated Fund. No amount can be withdrawn from the Consolidated Fund till the Appropriation Bill is voted is enacted

Capital Budget: It consists of capital receipts and payments. It also incorporates transactions in the Public Account. It has two components: Capital Receipt and Capital Expenditure. Capital Expenditure: It consists of payments for acquisition of assets like land, buildings, machinery, equipment, as also investments in shares etc, and loans and advances granted by the Central government to state and union territory governments, government companies, corporations and other parties. Capital Receipt: The main items of capital receipts are loans raised by the government from public which are called market loans, borrowings by the government from the Reserve Bank of India and other parties through sale of Treasury Bills, loans received from foreign governments and bodies and recoveries of loans granted by the Central government to state and union territory governments and other parties. It also includes proceeds from disinvestment of government equity in public enterprises. Central Plan: It consists of the government's budget support to the Plan and the internal and extra budgetary resources raised by public enterprises

Consolidated Fund: It is made up of all revenues received by the government, loans raised by it, and also its receipts from recoveries of loans granted by it. All expenditure of the government is incurred from the Consolidated Fund and no amount can be withdrawn from the Fund without authorisation from Parliament

Contingency Fund: It is an imprest placed at the disposal of the President and is used by the government to incur all its urgent and unforeseen expenditure....
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • National budget vis-a-vis local budget Essay
  • Determining causes and effects of not keeping a personal budget Essay
  • China's Budget Essay
  • the operating budget assignment 1 Essay
  • Budgets in Uk Local Authorities Essay
  • Budget Essay
  • Essay about Prominent Speech Analysis on “How State Budgets Are Breaking Us Schools”
  • Budget Essay

Become a StudyMode Member

Sign Up - It's Free