Arijit Basu Chowdhury is teaching live on Unacademy Plus
ECONOMICS Indian Fiscal System ARIJIT BASU CHOWDHURY Target WBCS(EXECUTIVE)
About Me Graduate in History from St.Paul's Cathedral Mission College, Kolkata Interests: Fitness, Current Affairs ,Burning Issues, Music, News Analysis . You can follow me on UNACADEMY https:/lunacademy.com/userlArijitBasuChowdhury Life has two rules: 1) Never quit. 2) Always remember Rule #1 . Rate, Review & Recommend
Indian Fiscal System Presentation of report by Standing Committees on Demands for Grants . After the General Discussion on the Budget, the House is adjourned for a certain period. During this period, theDemands for Grantsof various Departments and Ministries are considered by concerned Standing Committees. Do you know that Annual Financial Statement is only one of the several budget documents presented by Finance Minister? 1. Annual Financial Statement (AFS) - Article 112 2. Demands for Grants (DG) - Article 113 3. Appropriation Bill Artice 114(3) 4. Finance Bill Article 110 (a) 5. Memorandum Explaining the Provisions in the Finance Bill.
Indian Fiscal SyteFM Aci(Fiacal Reponstbli 6. Medium Term Fiscal Policy Statement FRBM /Act (Fiscal Responsibility and Budget Management Act, 2003) 7. Medium Term Expenditure Framework Statement - FRBM Act 8. Expenditure Budget Volume-1 9. Receipts Budget 10. Budget at a glance 11. Highlights of Budget 12. Status of Implementation of Announcements made in Finance Minister's Budget Speech of the previous financial year What is FRBM Act? Fiscal Responsibility and Budget Management (FRBM) became an Act in 2003. The objective of the Act is to ensure inter-generational equity in fiscal management, long run macroeconomic stability, better coordination between fiscal and monetary policy, and transparency in fiscal operation of the Government.