4. Budgetary Reforms

Attempts are continuously being made to overcome as many of the shortcomings as possible. A good example is the trend in OECD countries. The common elements of the budgetary reforms in OECD member countries are:

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 Rationale for introducing separate budgets in 1921 Rationale for Merger Apprehensions against this move 5.2.3. Budget Advancement Rationale of this move Apprehensions against this move