1. What
   1. french word - bougette (leather bag)
      1. FM- keep documents in it & present to the parliament
   2. primary tool used by gov't to
      1. implement it's
         1. fiscal policy
            1. what
            2. set of gov decision
            3. regarding taxation, expenditure, subsidies and other financial operations
            4. influence.
            5. savings , investment & consumption in an economy
            6. to
            7. accomplish certain national goals (income redistribution , socio-economic welfare)
   3. term budget - not in our con'n
      1. but each financial year gov - required to present
         1. finance bill (265)
            1. to obtain Parliament's permission
            2. to collect taxes
            3. can't increase it
            4. beyond what Govt has proposed in the
            5. Finance bill
            6. par't can reduce or abolish tax
            7. goes in
            8. no taxes shall be levied or collected except by authority of law
         2. appropriation bill (114)
            1. to obtain Parliament's permission
            2. to spend money from
            3. Consolidated Fund
            4. spend money (expenditure)- 2 types
            5. charged upon the CFI
            6. salaries,allowances - judges,speaker,chairman,Prez,CAG,lokpal,..
            7. can be discuss , not votable , automatic approve
            8. made from CFI
            9. funds for a scheme
            10. discussed & voted
         3. annual financial statement (art 112)
            1. containing
            2. estimated
            3. expenditure
            4. demand for Grant
            5. revenue
            6. expenditure & receipt(revenue)
            7. last year
            8. other stuff
            9. economic & financial policy
            10. taxation
            11. revenue
            12. expenditure
            13. new schemes or projects
            14. reasons
            15. deficit
            16. surplus
            17. plans
            18. to raise revenue
            19. for the next year
            20. Revenue expenditure must be shown sepeartely from other exp...
         4. considered as
            1. money bills
   4. A well planned Fiscal Policy can help in following arenas
      1. Full Employment
      2. to fight
         1. Inflation
         2. deflation
      3. To Boost
         1. Economic Growth
         2. Inclusive Growth
         3. Regionally Balanced Growth
      4. Exchange Rate Stability
2. budgetary procedure in india
3. 3 funds releated to
   1. consolidated fund ( art 266 )
      1. it has
         1. public money -
            1. Subtopic
      2. for withdrawal
         1. ........
   2. public fund of india (art 266 )
      1. in this fund
         1. money - day to day purpose, gov - act here as banker
         2. (money collected through) etc
            1. mobilise in .....
      2. for raising money from this fund
         1. no need for parliament approval
         2. if seperate fund is created
            1. for the 1st time
            2. for a specific expenditure
   3. contingency fund of india (art 267)
      1. unforseen events ( Rs 500 cr)
         1. by finance secretary
         2. on behalf of prez
      2. parli't approval
         1. subsequently required ..
      3. money refilled from CFI
   4. * all these funds are in - different accounts of their respective department ..
4. interim budget
   1. Subtopic
   2. it present
      1. in the regular function i.e - 3 documents (AFS, finance bill , appr. bill ) & 6 stages of passing
      2. Subtopic
      3. before each general election
   3. Subtopic
5. economic survey
   1. 2 volume document
      1. prepared by CEA
   2. Subtopic
      1. show annual data of past year
      2. & prospect / suggestions for the next year
   3. no con'l obligation
      1. to prepare & present it but usually
         1. Subtopic
   4. Subtopic
   5. ES vs interim budget
      1. not presented , expected - after general election or with new budget after general election
6. vote on account
   1. why
      1. Con'n
         1. does not mandate
            1. any specific date
            2. for presentation of budget
            3. but
            4. presented - L.sabha
            5. such day
            6. as Prez directs
      2. before 2017
         1. presented last working days of Feb
            1. then
            2. it'll pass through aforementioned 6 stages
            3. consume all time upto may month
         2. in b/w , on 31st march financial year will be over so previous year's appropriation act validity will be over
      3. gov't cannot withdraw money
         1. even for routine expenditure like staff , salery , electricity ,...
   2. .
      1. so to avoid such crisis
         1. gov't - put a motion for vote on account
            1. Parl't (= practically L.sabha) will allow - gov't - sepnd some money from CFoI
            2. till appropriation act for next financial year is passed
      2. now no need
         1. modi gov't tabling the budget
            1. on the 1st working day of feburary
            2. so no need of ....
7. finance ministery & its department
   1. Subtopic
   2. Subtopic