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 year and fixing a date [...]