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Finance Ministry starts to prepare Budget for FY12-13

The estimates of expenditure are to be furnished to Budget Division in stages

September 20, 2012 12:47 IST | India Infoline News Service
The Ministry of Finance has started the process to prepare budget for the next financial year by issuing guidelines to all central government ministries and departments. The Department of Economic Affairs has also issued guidelines for framing the revised budget estimates for 2012-13.

According to the Budget circular 2013-14, “The estimates of expenditure are to be furnished to Budget Division in stages. The estimates will be finalised after Secretary (Exp.) has held discussions with the Financial Advisers. These discussions are scheduled to commence in October/November 2012. These will focus on the net Budget of each Ministry/ Department i.e. expenditure less revenue receipts and capital receipts, like recoveries of loans, issue of bonus shares, etc.”

The Budget is generally presented on the last working day of February by the Union Finance Minister.




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