The budget preparation process involves forecasting future needs and expenditures. Therefore, the budget estimate for the next financial year and the actual expenditure of the current year (as a basis for revised estimates) are crucial. Actual expenditure of the previous year is also useful for context. The original budget estimate for the current year is a historical figure from the current year's budget, not a projection for future needs.
During the process of budget preparation, projected expenditure is called for from different departments/ Ministries under certain heads. Which of the following are not a part of such requirement? I. Actual expenditure of the previous financial year II. Actual expenditure of the current financial year III. Original budget estimate for the current financial year IV. Budget estimate for the next financial year Choose the correct option from the following :
Asked in ARO GS 252022 74 2024 · Topic: Fiscal Policy & Revenue (Government Budgeting: Structure, types, and implications)
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