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GOVERNMENT BUDGETING

Contents 1. Budgeting: Meaning and Importance 2. The Union of India’s Budget 2.1. Components of the Government Budget 2.1.1. Revenue Account 2.1.2. Capital Account 2.1.3. Statistics as Given by the Union Budget 2017-18 2.2. Stages in Enactment Presentation of Budget 3. Weaknesses in the Budgetary Process 3.1. Weaknesses in Resource Allocation and Use 3.2. Weaknesses in the Indian Budgetary System and Implementation 4. Budgetary Reforms 4.1. Medium Term Budget Frameworks 4.2. Prudent Economic Assumptions 4.3. Top-Down Budgeting Techniques 4.4. Relaxing Central Input Controls 4.5. An Increased Focus on Results 4.6. Budget Transparency 4.7. Modern Financial Management Practices (Kindly refer the document of Fiscal Policy for more details on FRBMA.)5.2. Budget 2017-18 5.2.1. Scrapping of Plan and Non-Plan classification 5.2.2. Merging of Railway and General Budget 5.2.3. Budget Advancement 6. Evolution of Budgeting 6.1. The Line Item Budget Advantages Disadvantages 6.2. Performance Budgeting 6.3. Outcome budgeting 6.4. Zero-based Budgeting 6.5. Gender Budgeting Need of Gender Budgeting Challenges and Limiting factors in Gender Budgeting 6.6. E-Budgeting Advantages 7. GS Mains Test Series Questions 1. What do you mean by gender budgeting? Examine the rationale and achievements of gender budgeting in India.Answer:2. What are the reasons behind a low tax base in India? Discuss the issues associated with it and the steps required to widen the tax base.Answer:A low tax collection adversely affects the economy in several ways :Way forward 3. The “Outcome Budget” reflects the endeavour of the Government to convert "Outlays" into "Outcomes". Explain. Also, discuss why the potential of outcome budgeting remains untapped in the Indian context.Answer:Benefits of Outcome based Budgeting Outcome Budgeting in India:Way Forward 4. "Good economics and bad politics cannot coexist in a sound budgetary process" Discuss.Answer:5. “Unspent provisions in a grant or appropriation indicate either poor budgeting or shortfall in performance or both”. Elaborate this statement in the context of budgeting in India. Also suggest few remedies to overcome it.Answer:8. Previous Years UPSC Mains Questions Contents 1. Definition of Inflation 2. Types of Inflation (on the basis of rate of inflation)3. Types of Inflation (based on causes)4. Associated Terms 5. Causes of Inflation b) Cost- Push Factors:c) Miscellaneous Factors:6. Impact of Inflation 7. Measures to Curb Inflation and their Limitations a) Monetary Measures Limitations of Monetary Measures in curbing inflation:b) Fiscal Measures c) Administrative Measures:8. Measures of Inflation 8.1. Inflation measurement based on period 8.2. GDP Deflator 8.3. Wholesale Price Index (WPI)Key Highlights New Features Need of New Series and Analysis Limitations of WPI Importance of WPI 8.4. Consumer Price Index (CPI)Recent changes in CPI Salient features of new CPI index (revised in 2015)8.5. Services Price Index (SPI)8.6. Likely effect of GST on inflation rates Likely effect of GST on inflation ♤ Effect on WPI 9. Recent Policy Measures to control inflation 9.1. Advantages of Monetary Policy Committee 9.2. Apprehensions against Monetary Policy Committee 10. GS Mains Test Series Questions 1. What do you understand by inflation? Critically evaluate the growth-inflation trade- off.Answer:2. What is inflation targeting? Describe the major recommendations of the Urjit Patel Committee for it.Answer:11. Previous Year UPSC GS Mains Questions

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