Course: Gain an understanding of Parliamentary Processes and Instruments Lesson Enactment of Budget Presented by Bhavin Sangoi Lesson: Enac
About me . B.A in Political Science & Psychology . Appeared in UPSC CSE Mains Teaching Indian Polity, International Relations, economics & mental Ability since 5 years Experience of teaching for various competitive exams such as NTSE, CET & UPSC Follow me on: https://Unacademyin/user/BhavinSangoi
Key points . Budget is enacted in the Budget session of Parliament that is first and longest session of Parliament. . It starts with the Presidential address to both the Houses assembled together Budget is a money Bill and hence Rajya Sabha only discusses it
Presentation of Budget . In India Budget is presented in two parts; Railway Budget and General Budget . Division of Budget in two parts was done on the recommendation of Acworth Committee in 1921 Railway Budget is presented by Railway minister in 3rd week of February.
General Budget General Budget is presented by Finance minister on last working day of February Along with presentation of Budget, FM also gives Budget speech which gives general sense of direction of economy After budget speech 3-4 days are allotted for the discussion on Budget FM replies at the end of discussion
Continued . After general discussion on Budget is over, Houses are adjourned for 3-4 weeks . All the demands for grants are submitted to 24 Departmental standing committees . Every committee examines and prepares detailed report on those demand for grants which are concerned with department to which committee is attached
Voting on demand for Grants General Budget contains 109 grants (103 civil and 6 defense) and Railway Budget contains 32 grants Thotal 26 dnys ane givnfor discusion and voting on demands for e Total 26 days are given for discussion and voting on demands for grants can also be brought by mount demanded in grant . At this stage cut motions opposition to reduce or refuse the a
Guillotine . Lok Sabha tries to discuss and pass each demand separately, but it is rarely able to do this On the last day all the remaining demands are put for vote, rrespective of whether they are discussed or not. This is called Guillotine
Appropriation Bill After passage of grants 'Appropriation Bill' is brought which includes, Charged expenditure as well as Grants voted by Lok Sabha . After Without the passage of Appropriation Bill money can't be withdrawn from the Consolidated fund of India
Finance Bill It ontains taxation mopozals for the nesx financial year . It contains taxation proposals for the next financial year Only after the passage of this bill Government can collect taxes. Opposition can bring amendment to reduce or reject any tax According to 'Provisional collection of taxes Act of 1931, Finance Bil must be passed by both the Houses and assented by the President, within the period of 75 days.
BA Political Science and Psychology, Mumbai University. Teaching Polity, Economics and international relations for 7 years.