It is to show the intended revenues and expenditures of the government so that the financial resources can be appropriately allocated to various agencies. This statement refers to the ..... process of financial administration.

BUDGETING

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

“It is to show the intended revenues and expenditures of the government so that the financial resources can be appropriately allocated to various agencies". This statement refers to the ____ process of financial administration.

A	Planning
B	Reviewing
C	Budgeting
D	Accounting

Explanation:

Detailed explanation-1: -Definition: Article 112 of the Constitution requires the government to present to Parliament a statement of estimated receipts and expenditure in respect of every financial year, from April 1 to March 31. This statement is called the annual financial statement.

Detailed explanation-2: -Revenue expenditure is for the normal running of Government departments and various services, interest payments on debt, subsidies, etc. Broadly the expenditure which does not result in creation of assets for Government of India is treated as revenue expenditure.

Detailed explanation-3: -No, government budget is a statement of estimated receipts and expenditure of the government for the fiscal year which is to begin.

Detailed explanation-4: -A budget is the financial statement showing the expected income and expenditure of the government during a financial year.

There is 1 question to complete.

ECONOMICS (CBSE/UGC NET)

ECONOMICS

BUDGETING