Archive | Budgeting

Budget: Meaning, Features and Canons

After reading this article you will learn about:- 1. Meaning and Definition of Budget 2. Features of a Budget 3. Canons 4. Classification. Meaning and Definition of Budget: The word “Budget” as applied to public finance was traced by Cannan to an anonymous pamphlet, enlilled. The Budget Opened, attacking the policy of Walpole while Chancellor […]

6 Main Concepts of Government Deficit

This article throws light upon the six main concepts of government deficits. The concepts are: 1. Budgetary Deficit (BD) 2. Monetized Fiscal Deficit (MFD) 3. Gross Fiscal Deficit (GFD) 4. Net Fiscal Deficit (NFD) 5. Gross Primary Deficit (GPD) 6. Net Primary Deficit (NPD). Government Deficit: Concept # 1. Budgetary Deficit: In India, the budget […]

Framing of Budget: 3 Steps

This article throws light upon the three steps involved in the framing of budget. The steps are: 1. Preparation of the Budget 2. Legis­lation of the Budget 3. Execution of the Budget. Framing of Budget: Step # 1. Preparation of the Budget: The Budget is prepared usually for a year. The selection of the finan­cial […]

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