The Budget: What It Means and How It Is Prepared

M. R. Sreenivasa Murthy ()

Chapter Chapter 3 in Public Budgeting in India, 2018, pp 17-37 from Springer

Abstract: Abstract The present paper is an attempt to outline the structure of government’s budgets in the Indian context and to explain the key concepts used in fiscal management and their implications. The media coverage of the budget mainly focuses on the highlights of the Finance Minister’s budget speech and the critical comments by political parties and business interests. Very rarely is any attempt made to analyse the actual budget documents other than a summary of what is called the Annual Financial Statement and a few highlights of taxation proposals. Also, the process of preparing a government’s budget is seldom the subject of public curiosity. The general public therefore remain largely uninformed about the details of the budget proposals relating to how most activities of government are proposed to be financed during the relevant year. This paper is an attempt in the direction of providing a holistic understanding of the budget covering the aspects of planning and budgetary processes.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isbchp:978-81-322-3917-8_3

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DOI: 10.1007/978-81-322-3917-8_3

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