Pranab Mukherjee releases Budget Manuel

NEW DELHI - Union Finance Minister Pranab Mukherjee on Tuesday said that the Union Budget has evolved over the past six decades to reflect the strength of India’s democratic processes in shaping its economy, and has emerged as a crucial tool for public finance management.

Releasing the first Budget Manual of Union Government here, Mukherjee said:” The Budget process of our country predates the Independence and has evolved over the past six decades to reflect the strength of our democratic processes in shaping our economy.”

“This manual is an attempt to bring together the entire Budget related activities and procedures. which were hitherto available in a dispersed manner in the form of executive instructions and guidelines,” he added.

Congratulating the Budget Division of the Department of Economic Affairs for taking this initiative, Mukherjee said: “Budget manual is a comprehensive document explaining in detail the procedures and activities connected with the preparation of Budget.

” It will serve as a guidance document to the officials involved in Budget making in the Finance Ministry as well as in other Ministries/Departments,” he added.

He said that it is also expected to act as a good reference document for interested readers and stakeholders.

“This document is an effort in the direction of fostering greater transparency and better understanding about procedures and systems relating to making of Union Budget,” he added.

He further said that the manual also deals with the Organizational aspects, roles and responsibilities of the Parliament, Parliamentary Committees and the responsibilities of various wings of the Executive in the Budget making process.

“The Union Government’s accounting and classification systems have also been explained apart from the working of the Consolidated Fund of India, the Contingency Fund of India and the Public Account of India,” he added.

He said the purpose of this manual is to provide guidance and a training tool for the officers and staff engaged in the Budget preparation, not only in the Finance Ministry but in other Ministries/Departments as well. (ANI)