BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
appropriations
|
|
|
grants-in-aid
|
|
|
discretionary spending
|
|
|
mandatory spending
|
Detailed explanation-1: -Grants-in-aid are payments in the nature of assistance, donations or contributions made by one government to another government, body, institution or individual. Grants-in-aid are given by the Union Government to State Governments and/or Panchayati Raj Institutions.
Detailed explanation-2: -Grants-in-aid are given by the Union Government to State Governments and/or Panchayati Raj Institutions. Union Government also gives substantial funds as grants-in-aid to other agencies, bodies and institutions.
Detailed explanation-3: -NOTE-(2) (a) The general principle of grant-in-aid is that it can be given to a person or a body which is independent of the Government. One Department of the Government cannot make a grant-in-aid to another Department of the same Government.
Detailed explanation-4: -Definition: Demand for Grants is the form in which estimates of expenditure from the Consolidated Fund, included in the annual financial statement and required to be voted upon in the Lok Sabha, are submitted in pursuance of Article 113 of the Constitution.