Indian Budget Process Overview
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Questions and Answers

What does a government budget primarily aim to achieve?

  • Stability in the economy (correct)
  • Encouraging economic fluctuations
  • Reduction in real GDP
  • Increase in regional disparities
  • How is a government budget defined in simple terms?

  • A statement of future economic projections
  • A statement detailing income sources and expenditures (correct)
  • A document showing historical expenditures
  • A report on economic fluctuations
  • What does a government budget contain regarding the economy's sectors?

  • Projections for government employment
  • Estimates for agriculture, industry, and services (correct)
  • Forecasts on international trade
  • Predictions on consumer spending
  • What is the main purpose of budgeted estimates in a government budget?

    <p>To estimate future expenses for the government</p> Signup and view all the answers

    Why is the government budget considered the most comprehensive report of the government's finances?

    <p>It details revenue sources and planned expenditures</p> Signup and view all the answers

    What is the main focus of the unit regarding budgetary processes?

    <p>Union budget only</p> Signup and view all the answers

    What happens after the general discussion on the budget in the Lok Sabha is over?

    <p>The demands for grants of various ministries are considered by standing committees.</p> Signup and view all the answers

    What role does the Lok Sabha have in relation to the demands for grants?

    <p>To vote on them ministry-wise.</p> Signup and view all the answers

    What is the purpose of introducing the Appropriation Bill after general discussions and voting on demands for grants?

    <p>To authorize government expenditure from the Consolidated Fund of India.</p> Signup and view all the answers

    What is the role of Rajya Sabha in the budget discussion process?

    <p>Votes on demands for grants.</p> Signup and view all the answers

    What types of motions are made in the form of 'cut motions' during the budget discussion process?

    <p>'Reduction motions' seeking to reduce sums sought by government.</p> Signup and view all the answers

    When is the Finance Bill, which gives effect to taxation proposals, introduced in Lok Sabha?

    <p>Immediately after the presentation of general budget proposals.</p> Signup and view all the answers

    When does the process of budget preparation commence?

    <p>In August-September of the previous year</p> Signup and view all the answers

    Who issues the budget circular containing detailed instructions and formats for preparing estimates?

    <p>Budget Division of the Ministry of Finance</p> Signup and view all the answers

    What is done by each department with regard to estimating receipts and expenditure?

    <p>Each department prepares estimates for receipts and expenditure separately</p> Signup and view all the answers

    Who does the union finance minister consult with during pre-budget consultations?

    <p>Finance ministers, chief ministers, industry associations, labor organizations, NITI Aayog experts</p> Signup and view all the answers

    Where is the budget presented after considering suggestions from the Estimates Committee?

    <p>In the Parliament</p> Signup and view all the answers

    What information do budget documents typically depict?

    <p>Information about receipts and expenditure for two years</p> Signup and view all the answers

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