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Budget: Introduction
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The various facets of financial administration including the BUDGET, its meaning and definitions and the importance.

Danish Khatana
Masters in Biotechnology IIT JAM 2011 (AIR - 479) CSIR NET Life Sciences 2012, DBT JRF 2015, UPSC CSE MAINS 2016, UGC NET Socio - 2018

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  1. BUDGET - ELEMENTS & PROCESS PRESENTED BY DANISH


  2. RKS IN MAINS 2016 ESSAY PAPER ABOUT ME MASTERS IN BIOTECHNOLOGY IIT JAM 2011 AIR - 479 WROTE UPSC CSE MAINS 2014 & 2016 139 PLEASE FOLLOW ME Unacademy.com/user/dani.the.freestyler


  3. Budgeting - the Need e Budgeting is synonymous with e Fiscal controls offer another management managerial tool. e Systematic, intelligent planning and e Money is the main measures of control allocating essential resources of men and materials for Accomplishment of almost all administrative jobs. e Finance is Life blood of government Treasury is the Financial engine whiclh keeps machine of government working by Turning revenue into public services.


  4. FinancialAdministration - Includes all processes involved in e Therefore, Components of financial administration Collecting Budgeting Appropriating Budgeting e Accounting Auditing Purchas and supply management Tax administration . Expending publicmoneys Auditingincome and expenditures Receipts and disbursements Accounting for assets and liabilities e Treasury management


  5. Financial administration Dynamic process Performed by these Agencies Preparation of budget e Legislative approval of budget Legislature . Executive Execution of budget . Finance department e Treasury management Audit department Legislative Accountability


  6. Budget: Meaning and definition e Expenditures in view of expected revenue e French word 'Bougette leather Statement of government needs and bag or wallet used for the First resources time in 1733 e Receipt to be realized and expenses to be . Collection of documents for incurred submission to legislature that o Plan of action for which carry estimates of expenditures. e Executive-power of initiation & leadership Legislative- Power of final determination


  7. Essentials Of Budget Responsible executive leadership . Effective control over the execution Staff assistance Clarity Budget unity Detailed specification Prior authorization . Broad and accurate budget nformation . Complete budget plan Periodicity e Publicity


  8. Importance of the budget Very vital role Budget becomes a Tool o planning, . articulation of policies, of e e Very complex and lengthy process . Promoting social welfare activities Sound budgeting useful socially, economically and politically implementation of programmes and t policies o review of accomplishments and programmes


  9. Types of budget Legislative type Executive type Committee of legislatures On the request of executive Legislature prepares & approves Programme of the government Political, economic and social aspect Prepared by the executi legislature, responsibility for its execution lies with the executive. e Prepared by the executive, approved by Board or Commission type Expert with the chief executive Some states of USA . Local government planning By experts - Special agency


  10. Economic and social implication e Welfare state - by positive acts of distributive justice. Effects Production, Size and distribution of income plus the Availability of man power and materials e How much tax one will have to pav Taxation policy may narrow class distinction o Aimed at removing Poverty, unemployment and maldistribution of wealth