Topic of the day-Budget

Topics

1.What

2.Constitution provision

3.Need

4.Type

5.Issue

6.Way to improve

7.Qustn for prelims

8.Qustn for mains

----Recent Issues regarding budget will be cover in tomorrow's topic------

what?

1.Financial statememt of the govt which gives earning and expenditure of previous years and expected earning and expenditure for the coming year.

Constitution

1.Art-112 deals with it---It is referred as Annual Financial Statememt. Constitution doesn't use word 'Budget'.

Need

1.To work in an organised manner

2.Fiscal Management

3.Future planned based working

4.Analysis of the past performance

5.responsibility to changing need of time

6.Inclusive growth

7.Resources mobilisation

8.Welfare scheme

9.Taxation

10.Infrastructure spending

11.education and health spending

12.overall govt policy

Types

1.Gender Budgeting

2.Outcome based budgeting

3.Performance based budgeting

1.when budget are made by taking into perspective special need of the women wrt various schemes and policies of the govt for eg-factoring in need of women while sanctioning money for Smart Cities

2.When budget is measured not just in terms of money spend but on the outcome that we get from that money for eg-outcome in form of no of highways constructed rather than in amont of money spend on that highways.

3.When not just outcome of money but its efficiency in term of the time spend is also evaluated

Issues at present

1.Gender budget not whole heartedly follow

2.Fiscal deficit

3.expenditure on unproductive not on capital investment

4.discussion over topics is.limited

5.parlianmentarian not expert on subject thus hinder proper discussion

Way to improve

1.FRBM reform need to b made and follow so that fiscal management can b properly done

2.Gender budgeting and outcome budgeting can be more rule based and proper with full enthusiasm

3.Training of officer on gender and outcome budgeting

4.Institutions specific for such budgets

Qustn for Prelims

Budget refers to

A-fiscal deficit statement of the government

B-export import statememt of the country

C-revenue-expenditure statememt of the government

D-revenue expenditure statement of the country

Qustn for Mains

1.What are the ways to make budget expenditure more on capital infrastructure rather than unproductive assets?.