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Government budgeting is a dynamic subject. In India, budgetary reforms are a part of the ongoing efforts to liberalise and globalise the India economy. Significant changes have occurred in India`s budgetary policy in the recent past. For example, in a significant move, the Union Finance Minister announced in his 1997-98 budget speech the discontinuance of the system of ad hoc treasury bills to finance the budget deficit. Instead, a scheme of Ways and Means Advances (WMA) by the Reserve Bank of India to the Central Government was introduced to accommodate tempporary mismaztch in the receipts and payments of the Governemnt. With the intordiction of WMA from Aprial 1, 1997, the traditional concept of with the 1997-98 budget, the practice of showing overall budget deficit has been discontinued. Instead. fiscal deficit is now the key indicator of budeetary dificit. The purpose of this book is to explain the concepts and processes involved in the budgetary exercise of the Government of India. It is useful for those who areinterestd in understanding the mechanics of govbernment budgeting. The book describes the structure of the Central Government Budget, including its economic classification. Parliamentary procedures and controls applicable to budgetary activities of the Government are explained in detail. Interface between the Cental and State governemnt budgets has also been examined. This thoroughly revised, updated, and enlarged edition incorporates new material, data, and analysis. * Contents: : 1. Government Budgeting - An Introduction 2. Structure of Central Government Budget 3. Phases of Budgetary Cycle 4. Functional, Economic and Cross- Classification of the Budget 5. Budget and Fical Federalism Chronology of Central Budgets Select Bibliography Index. ISBN: 81-87046-02-3
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