Vote on Account 2014

Monday 17 February 2014

DTE-CSE Roundtable on Interim Budget

UPA woos women and tribal voters

Finance minister lists Forest Rights Act as one of its key achievements while MGNREGA doesn't find mention.


Small farmers have little to cheer about

Companies will benefit most from steep hike in farm credit


Curative care gets more than preventive care

Prevention is the only way to reduce the cost of healthcare in India


Mr Chidambaram, show some courage to win votes

Excise cut for all types of vehicles, especially fuel-guzzling SUVs, undermines earlier UPA decisions in public interest

The budget process comprises four distinct phases from the formulation stage to presentation
  1. Budget formulation: the preparation of estimates of expenditure and receipts for the ensuing financial year;
  2. budget enactment: approval of the proposed Budget by the Legislature through the enactment of Finance Bill and Appropriation Bill;
  3. budget execution: enforcement of the provisions in the Finance Act and Appropriation Act by the government—collection of receipts and making disbursements for various services as approved by the Legislature; and
  4. legislative review of budget implementation: audits of government’s financial operations on behalf of the Legislature.
A look at how the focus of the Union Budget has shifted over the years from the initial period when the fallout of the partition determined budgetary provisions
1948-1949: The first budget of India covered just 7-1/2 months, from August 15, 1947, to March 31, 1948. The main highlight of the first budget was the decision to pass the budget. Partition and the consequent destabilisation were the core factors that determined the budget provisions. The three major expenses in the budget were on food grain production, defence services and civil expenditure. Food production was low, and therefore, self-sufficiency in food grains was accorded highest priority. The targeted budget revenue was Rs 171 cr (approx). Of this, Rs 15.9 crore was expected from the posts and telegraph department. The expected revenue expenditure was Rs 197 cr (approx), of which defence was allocated Rs 92.74 crore. The increase in expenditure was on account of expenses allocated for stabilisation, refugee relief and rehabilitation.
Scroll through past DTE articles on budget implications
Please increase intro when you put map on landing page banner: This election will determine if social spending of Rs 12 lakh crore and rights-based pieces of legislation are enough to win votes, especially of the unprecedented number of young voters who will exercise their franchise the first time.

Down To Earth reporters traversed across the country to put together these reports
The National Development Council (NDC) is meeting on December 27 to approve the 12th Five Year Plan (2012-17). The Plan draft recommends “immediate” steps to counter the economic slow down. It has made plan goals conditional to these steps. But delay has marred the Plan’s rolling out. According to Planning Commission sources, it is only in the budget of 2014 that the Plan will be reflected. However, government has the freedom to take economic revival steps that are outside the domain of the Commission.
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