The Budget


Q. The Budget

The budget is the annual financial statement of the government. It is a government bill and is classified as a Money Bill. It is presented to the Lok Sabha upon the recommendation of the President.

The budget is a statement of the estimated receipts and expenditures of the government of India for the following financial year. All the expenditures approved through various demands for grants and expenses charged on the Consolidated Fund of India, are then presented in the form of a single bill called the Appropriation Bill.

The proposals for taxation to raise revenue are presented in the form of ‘Financial Bill’

Consolidated Fund of India-

It is a fund to which all the revenue, loans raised and income of the Government of India are deposited.

Charged expenditures-

Charged expenditures are expenditures that do not require the approval of the Parliament to be spent out of the Consolidated Fund of India.

Contingency Fund of India-

This fund was created in 1950 by an act of Parliament on the basis of powers provided under Art 267. It has a limit of 50 cores. It is placed at the disposal of the President to meet unforeseen expenditures where the Parliament’s approval cannot be obtained owing to time factor.

Question hour

Normally the first hour of the business of a house every day is devoted to questions and is called question hour.

Adjournment Motions-

An adjournment motion is an extra- ordinary procedure which if admitted leads to setting aside the normal business of the house for discussing a definite matter of urgent public importance.

Call- attention motion-

A Member of Parliament may with prior permission of the Speaker, call the attention of a minister to any matter of urgent public importance and the minister may make a brief statement or ask for time to make a statement at a later hour or date.

No – confidence motion-

A motion moved by a member to express lack of confidence in the Government for any reason. The motion, if allowed is debated upon. At the conclusion of such a debate, a vote of confidence is sought by the government and it fails to get the required majority of votes, it has to resign.

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