What is the meaning of budgetary deficit?

December 28, 2017

Budgetary deficit is an important indicator of the financial health of the country. The sum of deficits of revenue account and the capital account comprise the budgetary deficit. Revenue account deficit is equal to the excess of revenue expenses to revenue receipts. Likewise, the excess of capital disbursements of...

Appropriation Bill

June 9, 2017

Appropriation is the process of setting aside the money for a particular purpose or expenditure. As per Article 114 of the constitution of India, no amount can be withdrawn from the consolidated fund of India without authorisation from the parliament of India or legislature of the states. Due to...

Annual Financial Statement

June 9, 2017

Annual Financial Statement is a documents presented to the Parliament in every financial year as a part of the Budget Process under Article 112 of the constitution of India.  This document comprises the receipts and expenditures of the government of current year, previous year and budget year in three...