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 […]
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 As per Article 114 of the constitution of India, no amount can be withdrawn from the consolidated fund of India without authorisation from the parliament of India or legislature of the states.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 this, the parliament as well as […]
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 separate parts viz. Consolidated Fund of […]