India : Central Government Budgets 1947-48 to 2003-04

Contents: I. Government budgeting in India: procedures and structure/The editor: 1. Government budgeting: theoretical settings: (i) Economic responsibilities of the state. (ii) Modes of state intervention. (iii) Fiscal policy. (iv) Fiscal policy-monetary policy interaction. (v) Significance of government budgeting. (vi) Government budgeting versus private budgeting. (vii) Canons of government budgeting. (viii) Zero-base Budgeting (ZBB). 2. Constitutional provisions and Indian budgetary procedures: (i) Annual financial statement. 2. Accounts of the government. (iii) Financial emergency. (iv) Phases of budgetary cycle. (v) Performance budgets. (vi) Parliamentary control over the budget. 3. Structure of the Central Government Budget: (i) Revenue budget. (ii) Capital budget. (iii) Various measures of budget deficit and their significance. (iv) Fiscal responsibility and Budget Management Bill. (v) Deficit financing: magnitude and timing. (vi) Budget-plan integration. (vii) Budget and the external sector. 4. Functional, economic and cross-classification of the budget: (i) Functional classification of the budget. (ii) Economic classification of the budget since 1957-58. (iii) Cross-classification of the budget since 1967-68. 5. Budget and fiscal federalism: (i) Financial relations under the constitution. (ii) Centrally biased constitution. (iii) Mechanism of transfers. (iv) Transfer of resources through the Finance Commission. (v) Main recommendations of the Eleventh Finance Commission. (vi) Transfer of resources through the Planning Commission. (vii) Nature of Plan transfers. (viii) Centrally sponsored schemes. (ix) Size and pattern of central transfers. II. Extracts from the budget speeches of the Union Finance Ministers: 1947-48 to 2003-04. III. Time-series budgetary data. IV. Appendices: 1. Constitutional provisions pertaining to taxes in India. 2. Methodology of economic classification of the Central Government Budget. 3. System of financial transfers from the centre to the states prior to the recommendations of the Eleventh Finance Commission. V. Glossary of budgetary terms. Bibliography.

"Government budgeting is a subject of increasing importance and interest in India. The high level of administrative, welfare and developmental activities of the Central Government make for colossal amounts of both receipts and disbursements. Such large-scale public transactions through the budget affect the economy in various ways.

"This book explains the concepts and processes involved in the budgetary exercise of the Government of India. It describes the Parliamentary procedures and controls applicable to budgetary activities of the Government, the structure of the Central budget, and the interface between the Central and State finances. It also explains the relatively technical aspects of the Central budget, viz. its functional, economic and cross-classification. More importantly, it also brings at one place, carefully selected extracts from the budget speeches of the Union Finance Ministers since independence.

"Furthermore, it provides a ready source of comprehensive statistical information on Central Government finances in India. It would be useful for a cross-section of academic community and researchers, both in India and abroad. The data has been suitably condensed, edited, excerpted, recast and formatted for easy comprehension by the users.

"This work, it is hoped, would prove useful for the students of economics, commerce, public administration and business management. An understanding of the mechanics of governmental financial transactions will also serve the needs of legislators, administrators and those in industry and trade. In short, the book will be useful for those who want to understand the processes involved in government budgeting." (jacket)