1. Article 112 of our Constitution mandates presentation of an Annual Financial Statement (AFS), besides several other documents, along with Annual Union Budget speech always.
2. Latest AFS shows govt.'s Estimated Receipts and Expenditure for 2019-20 in relation to Estimates for 2018-19, as also Actual expenditure for 2017-18, net of refunds and recoveries.
3. AFS distinguishes Revenue account expenditure from expenditure on other accounts, and Revenue and Capital sections together make the Union Budget.
4. Government Accounts are kept under 3 parts, viz.
(i) Consolidated Fund of India,
(ii) Contingency Fund of India and
(iii) Public Account of India.
4(i). Consolidated Fund of India is formed by all govt. revenues, loans raised, and receipts from recoveries of loans, and all govt. expenditure is incurred from this Fund, from which no amount can be withdrawn without Parliament's authorization.
4(ii). Contingency Fund of India is an imprest corpus, currently 500 Crores, placed at the President's disposal to facilitate meeting of urgent unforeseen govt. expenditure, pending Parliament's ex-post-facto authorization, after which an equivalent amount is drawn from Consolidated Fund to recoup it.
4(iii). Public Account of India keeps all the moneys held by Govt. in trust, e.g. Provident Funds, Small Savings, Govt. income set apart for expenditure on specific objects such as road development, primary education, other Special Funds etc., and don't require Parliament's authorisation for withdrawals.
5. A web version is hosted at http://indiabudget.gov.in , with hyperlinks, for efficient and user-friendly access to all Union Budget documents.
2. Latest AFS shows govt.'s Estimated Receipts and Expenditure for 2019-20 in relation to Estimates for 2018-19, as also Actual expenditure for 2017-18, net of refunds and recoveries.
3. AFS distinguishes Revenue account expenditure from expenditure on other accounts, and Revenue and Capital sections together make the Union Budget.
4. Government Accounts are kept under 3 parts, viz.
(i) Consolidated Fund of India,
(ii) Contingency Fund of India and
(iii) Public Account of India.
4(i). Consolidated Fund of India is formed by all govt. revenues, loans raised, and receipts from recoveries of loans, and all govt. expenditure is incurred from this Fund, from which no amount can be withdrawn without Parliament's authorization.
4(ii). Contingency Fund of India is an imprest corpus, currently 500 Crores, placed at the President's disposal to facilitate meeting of urgent unforeseen govt. expenditure, pending Parliament's ex-post-facto authorization, after which an equivalent amount is drawn from Consolidated Fund to recoup it.
4(iii). Public Account of India keeps all the moneys held by Govt. in trust, e.g. Provident Funds, Small Savings, Govt. income set apart for expenditure on specific objects such as road development, primary education, other Special Funds etc., and don't require Parliament's authorisation for withdrawals.
5. A web version is hosted at http://indiabudget.gov.in , with hyperlinks, for efficient and user-friendly access to all Union Budget documents.