CAG

What is the meaning of Appropriation Bill?

An Appropriation Bill defines the budgetary estimates for the current year as passed by the Parliament of India or legislatures of state. It later becomes an Act after getting the assent of the President of India or Governor of the State. It then is known as an Appropriation Act. Once passed, no amendments are allowed […]

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What is an Annual Financial Statement?

Annual Financial Statement is the statement of estimated receipts and expenditures of the Government of India which as mandated by the Article 112 of the Constitution of India should be presented the Parliament by the Government. All the receipts and expenditures are categorised into three parts namely: Consolidated Fund Contingency Fund Public Account The Constitution […]

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