siddiq
Illustrate with appropriate diagram and discuss the national budget preparation process at the Federal level.
The budget preparation proces at federal level starts in january where treasury in ministry of finance will call circular for New Year Estimation. The call circular requesting for the submission of budget proposals from all ministries and government agencies.the call circular contains budget strategies and macroeconomics to be achieved. Then, it is followed by the preparation of proposed budget that are made by the agencies under Ministry of Finance after the call circular was made by the treasury. On March, the agencies under the Ministry of Finance will submit the proposed budget to the treasury.
After the submission has been made, the proposed budget will be examined by the treasury. The subject that wil be examined are the progres of existing programmes and ensureing the new project comply with the broad strategies and criteria that were set in call circular. Officers of the Budget Management Division would hold the discussion with the government agencies to fix the expenditure ceiling for the folowing year.
On April, the budget hearing wil be held. It is conducted to check budget proposals with policy directives. This hearing will be chaired by the BRO with representatives from EPU and PSD.
From May to July, budget hearing wil be held. The purpose of this budget hearing is to examine staf request by the PSD, to ensure the anual budget proposals conform to the 5-year development plan, to consider physical and financial performance for past years, and to look at the government financial position and New Economic Policy objectives.
Fro August to September the Minister of Finance will have a dialogue session with every significant business and community group. The dialogue wil last for about two weeks and cover consultation with Malaysia Institute of Economic Research, Economic
The budget preparation proces at federal level starts in january where treasury in ministry of finance will call circular for New Year Estimation. The call circular requesting for the submission of budget proposals from all ministries and government agencies.the call circular contains budget strategies and macroeconomics to be achieved. Then, it is followed by the preparation of proposed budget that are made by the agencies under Ministry of Finance after the call circular was made by the treasury. On March, the agencies under the Ministry of Finance will submit the proposed budget to the treasury.
After the submission has been made, the proposed budget will be examined by the treasury. The subject that wil be examined are the progres of existing programmes and ensureing the new project comply with the broad strategies and criteria that were set in call circular. Officers of the Budget Management Division would hold the discussion with the government agencies to fix the expenditure ceiling for the folowing year.
On April, the budget hearing wil be held. It is conducted to check budget proposals with policy directives. This hearing will be chaired by the BRO with representatives from EPU and PSD.
From May to July, budget hearing wil be held. The purpose of this budget hearing is to examine staf request by the PSD, to ensure the anual budget proposals conform to the 5-year development plan, to consider physical and financial performance for past years, and to look at the government financial position and New Economic Policy objectives.
Fro August to September the Minister of Finance will have a dialogue session with every significant business and community group. The dialogue wil last for about two weeks and cover consultation with Malaysia Institute of Economic Research, Economic