Budget Made & the People Behind Through the Budget, the government of the day seeks Parliament’s permission to collect funds by way of taxes, duties, borrowings and so on. These funds are used, with the approval of Parliament, to meet expenses.
Who makes The Budget: Budget is made through a consultative process involving ministry of fi nance, Planning Commission and the spending ministries States present their annual demand to the Planning Commission and others to ministries concerned Finance ministry and Planning Commission issue guidelines to spending based on which ministries present their demand.
How is The Budget Made: In September, the Budget Division issues a circular to all Union ministries, states, UTs, autonomous bodies and departments the defence forces for preparing budget estimates for the next year After ministries and departments send in their demands, extensive consultations are held between Union ministries and the Department of Expenditure of the Finance Ministry..
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