The typical stages of the budget in Parliament are:
Rule of Lapse This rule implies that any unspent appropriation from the budget for a particular financial year lapses at the end of that year and cannot be carried forward to the next year. Statement 1 is incorrect. 2. Supplementary Grant This is an additional grant required during the current financial year when the amount authorized by the Parliament through the Appropriation Act for a particular service is found to be insufficient, or when a need arises for expenditure on a new service not contemplated in the annual budget. Statement 2 describes something closer to a Vote on Account or an advance, not a supplementary grant. 3. Vote on Account This is a grant by Parliament by which the government is authorized to draw money from the Consolidated Fund of India to meet expenditure for a part of the new financial year, pending the completion of the budgetary process (passing of Appropriation Bill and Finance Bill). It is an advance grant for a few months, not additional funds for the current year like a supplementary grant. Statement 3 is incorrect. 25. Which one of the following is the correct sequence of different stages a budget has to go through in the Parliament ? 1. Presentation of the Budget 2. Scrutiny by Departmental Commit- tees 3. Passing of Finance Bill 4. Passing of Appropriation Bill Select the correct answer using the code given below :
Asked in UPSC CAPF 2017 · Topic: The Parliament (Budget in Parliament: Financial Procedures and Funds)
More Indian Polity and Governance questions
- Presentation of the Budget The budget is presented by the Finance Minister, followed by a general discussion on its overall proposals. 2. Scrutiny by Departmental Committees After the general discussion, the Houses adjourn, and standing committees scrutinise the demands for grants of respective ministries and prepare reports. 3. Voting on Demands for Grants Based on the committee reports, the Lok Sabha discusses and votes on the demands for grants of various ministries. 4. Passing of Appropriation Bill This Bill is introduced after the grants are voted. It authorizes the government to withdraw money from the Consolidated Fund of India to meet the expenditure sanctioned in the voted grants and charged expenditures. 5. Passing of Finance Bill This Bill gives effect to the financial proposals of the government for the next financial year (primarily concerning taxes). It is usually passed after the Appropriation Bill, but both must be passed before the new financial year begins (April 1st). Based on the options provided, the sequence 1-2-4-3 corresponds to Presentation - Scrutiny - Appropriation Bill - Finance Bill, which is the correct procedural order where the Appropriation Bill is passed before the Finance Bill. 26. Consider the following statements : The Rajya Sabha has no power either to reject or to amend a Money Bill. The Rajya Sabha cannot vote on the Demands for Grants. The Rajya Sabha cannot discuss the Annual Financial Statement. Which of the statements given above is/are correct?
- With reference to the Union Government, consider the following statements: 1. The Department of Revenue is responsible for the preparation of Union Budget that is presented to Parliament. 2. No amount can be withdrawn from the Consolidated Fund of India without the authorization from the Parliament of India. 3. All the disbursements made from Public Account also need the authorization from the Parliament of India. Which of the statements given above is/are correct?
- With reference to the funds under Members of Parliament Local Area Development Scheme (MPLADS), which of the following statements are correct ? 1. MPLADS funds must be used to create durable assets like physical infrastructure for health, education, etc. 2. A specified portion of each MP's fund must benefit SC/ST populations. 3. MPLADS funds are sanctioned on yearly basis and the unused funds cannot be carried forward to the next year. 4. The district authority must inspect at least 10% of all works under implementation every year. Select the correct answer using the code given below :
- With reference to Union Budget, consider the following statements : 1. The Union Finance Minister on behalf of the Prime Minister lays the Annual Financial Statement before both the Houses of Parliament. 2. At the Union level, no demand for a grant can be made except on the recommendation of the President of India. Which of the statements given above is/are correct ?
- The term 'guillotine' is associated with
- Which one of the following pairs is correctly matched ?
- Which one of the following is not charged on the Consolidated Fund of India ?
- Consider the following statements regarding enactment of budget in the Parliament : 1. Railway Budget used to be presented before the General Budget. 2. The Finance bill must be enacted within 75 days of its introduction. Which of the above statements is/are correct ?
