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Financial Control Mechanism in Government of India
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109 b
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India's fiscal and financial management is reflected in the Finance Bill also called the Budget. Annual Financial Statement is a statement of the estimated annual receipts and expenditure of the Government. In India the Parliamentary control over public finances becomes operative primarily through the approval of the Annual Budget. The main objective of Government financial management is to determine what the requirements for the various socio-economic sectors in the country, state allocations for central and concurrent list subjects, thrust areas of the government, etc. This book delves into the different aspects of financial control mechanism of the Government of India. It helps provide an insight into various processes inter-alia including budget formulation, implementation, rules and procedures for expenditure of public moneys, project appraisal and approval process, etc.
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