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Explain the budget making process of the Government of India. Also explain the difference between plan expenditure and non-plan expenditure. (125 Words) [UPPSC 2023]
Budget Making Process of the Government of India The budget-making process in India involves several key stages: 1. Preparation: Departments prepare estimates of their expenditures and revenues. These are compiled by the Ministry of Finance. 2. Approval: The draft budget is presented to the Union CaRead more
Budget Making Process of the Government of India
The budget-making process in India involves several key stages:
1. Preparation: Departments prepare estimates of their expenditures and revenues. These are compiled by the Ministry of Finance.
2. Approval: The draft budget is presented to the Union Cabinet for approval before being introduced in Parliament, typically in February.
3. Discussion: The budget is discussed in both houses of Parliament, where members can suggest changes.
4. Approval: After discussions, the budget is voted on, and once approved, it becomes law.
Difference Between Plan Expenditure and Non-Plan Expenditure
1. Plan Expenditure: This refers to expenses incurred on government schemes and projects aimed at economic development. For example, allocations for infrastructure projects under the National Infrastructure Pipeline.
2. Non-Plan Expenditure: This covers the government’s regular expenses, such as salaries, pensions, and interest payments. For instance, social welfare schemes like Mahatma Gandhi NREGA fall under this category.
In recent budgets, there has been a shift towards increasing non-plan expenditure to address social challenges while maintaining development through plan expenditure.
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