Topics
250 words
Topic

Budgetary Process

The budgetary process refers to the systematic cycle of formulating, enacting, executing, and auditing the financial plan of the government, encompassing the estimation of receipts and expenditures for a fiscal period.

Why it matters

  • Ensures legislative control over the executive through the power of the purse.
  • Acts as a primary instrument for socio-economic development and resource allocation.
  • Provides a framework for fiscal discipline and transparency in public financial management.

How it is asked

Focus on the constitutional provisions under Article 112, the stages of the budget in Parliament, the role of the Finance Ministry, and the function of Parliamentary Committees like the Estimates Committee and Public Accounts Committee.