Presented by Finance Minister (with prior recommendation of president) in parts- part A- a general economic survey of country; Part B – taxation proposals. Presented in 2 phases – Railway Budget (By Railway Minister in 3rd week of February) & General Budget by finance Minister on last working day of February at 5 pm There is no discussion of ?Budget is laid before Rajya Sabha .
Starts after few days of its presentations spread over 3-4 days in both Houses. By Convention, at this stage , members details of taxation & expenditure . No cut motions or voting at this stage . FM has general right of reply at the end .
These committees (17 in 1993 increased to 24 in 2004 ) work during recess of parliament (April 1- 18 ) and discuss individual demands of each ministry, and submit reports to parliament within given time – limit; but cannot make suggestions amounting to cut motions .
Demands for grants are presented ministry wise; discussed in detail & put in from of a motion. Members can disapprove a policy, suggest measures for economy , and focus attention to specific grievances by moving subsidiary motions called Cut Motions’ while the General Budget has totally 109 demands (103 for civil expenditure and 6 for defence expenditure), the Railway Budget has 32 demands. Each demand is voted separately by the Lok Sabha. Business Advisory Committee fixes a time for voting a particular demand. As the time limit for a demand is over, ‘ Closure is applied & demand is put to vote. On last day, demands not disposed of so far, are put to vote whether discussed or not . this process is known as Guillotine. With this the discussion on demands for grants is concluded.
Gives legal authority to government to appropriate expenditure from & out of Consolidated Fund . includes grants voted by Lok Sabha & expenditure charged on Consolidated Fund. It is passed in the same manner as any other Bill except that the debate is restricted to those matters only which were not covered during the debate on demands & that no amendment can be made to it. Once passed by Lok Sabha , it transmits to Rajya Sabha which has no power to amend or reject it but has to give its concurrence . the bill is then sent to president for assent.
It includes al taxation proposals of Government . All taxes are not to be voted every year Some of them are permanent & their rates can be varied from time to time by Government . is not . Amendments can be moved to it . this bill has to be particular estimates is not. Amendments can be moved to it . this bill has to be passed by Parliament & assented to by president within 75days after it is introduced
There are 3 kinds of funds provided under the Constitution for the custody of the funds:
Consolidated fund of India (Article 266) fund to which all receipts are credited and all payments are debited (i) all revenues received by GoI; (ii) all loans raised by the issue of treasury bills loans or ways & means of advances, and (iii) all moneys received in repayment of loans – form receipt side. No money out of it can be appropriated except in accordance with a parliamentary law.
All other public money (other then Consolidated fund) received by GOI shall be credited to it : Provident fund deposits, judicial deposits , savings bank deposits, department deposits remittances etc. Operated by executive action, that is the payments from this account can be made without the parliamentary appropriation. Such payments are mostly in the nature of banking transactions.
The constitution authorized parliament to establish a Contingency fund of India into which shall be paid from time to such sums as may be determined by law accordingly parliament enacted contingency fund of India Act in 1950. This fund is placed at the disposal of the president , and he can make advances out of it to meet unforeseen expenditure pending its authorization by the parliament.