New index to Assess Quality of Central and State Budgets

The Confederation of Indian Industry (CII) has come out with a Fiscal Performance Index to assess the quality of budgets presented by the Centre and state governments. Fiscal Performance Index Fiscal Performance Index (FPI) is an innovative tool which uses ..

Best Practices in Budget Formulation

The Transparency International conducted a survey to analyse the best practices followed by the states in the Budget Formulation. About the Survey The survey was based on 4 parameters which include public disclosure, budgetary process, post-budget fiscal management and efforts ..

Month: Current Affairs - February, 2019

Ministry of Finance starts ‘Know Your Budget’ on Twitter to educate general public about budgetary process

The Union Ministry of Finance has started ‘Know Your Budget’ fortnight series on its Twitter handle to educate general public about the budgetary process. The series would explain the importance of Union Budget and its making, and would continue for ..

India signs a loan agreement with World Bank for strengthening public financial management in Rajasthan project

India has signed a loan agreement with the World Bank (WB) for $21.7 million for strengthening the public financial management in Rajasthan project in New Delhi on May 29, 2018. The objective of the project is to contribute to improved ..

Highlights of Kerala State budget 2017-18

The Kerala State budget 2017-18 was presented by the State Finance Minister Dr Thomas Isaac. It was is the first full-fledged budget of the present Left Democratic front (LDF) government. In the Budget speech the minister held that the Centre’s ..

Month: Current Affairs - March, 2017

N K Singh panel submits report on changes in FRBM Act  

The Fiscal Responsibility and Budget Management (FRBM) Committee has submitted its 4 volume report on changes in FRBM Act, 2013 to the Union Finance Minister Arun Jaitley. The 5 member committee was headed by N.K. Singh, former Revenue and Expenditure ..

Month: Current Affairs - January, 2017

Budget on February 1 to help Kick-Start Projects earlier

The central government expects that its proposal to present the union budget on February 1 will kick start developmental projects from April 1 itself. The government has said that its decision to present the budget early would not get impacted ..

Highlights of Union Budget 2015-16

Union Finance Minister Arun Jaitley presented Union Budget 2015-16 in the Parliament. It was the first full year Budget of the NDA government under leadership of Prime Minister of Narendra Modi and the second budget of Arun Jaitley as Finance ..

Month: Current Affairs - February, 2015

Highlights of Uttar Pradesh budget 2015-16

Uttar Pradesh Chief Minister Akhilesh Yadav presented Rs 3.02 lakh crore annual budget of state on 24 February 2015. In annual budget state government has given main thrust on agriculture, education, power, health, roads and infrastructure development. Key facts from ..

Month: Current Affairs - February, 2015

Budget Box 2014-15: Highlights

Union Finance Minister Mr. Arun Jaitley presented Union Budget 2014-15. The highlights:   For individuals No change in the Tax slab on personal income Income tax exemption limit increased by Rs 50,000 to Rs 2.5 lakh and for senior citizens ..

Month: Current Affairs - July, 2014