What is the meaning of Appropriation Bill?

December 4, 2017

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....

What is an Annual Financial Statement?

November 29, 2017

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...