Budget 2023: Expenditure is estimated from all ministries, states and union territories, other autonomous bodies and defense forces. It is estimated that which department or ministry needs how much fund.
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Budget Gurukul: Finance Minister Nirmala Sitharaman will present the country’s general budget on February 1. This is the last full budget of the second term of the Modi government. like every year this time also general budget People’s expectations are attached to it. If you want to know how many teams it takes to make a budget. And how many people prepare this budget and how the budget is prepared. Who are the people involved in the team that prepares it. Here you are being given complete information.
Usually, the process of preparing the general budget for the upcoming financial year starts from the month of September. In its first episode, expenditure is estimated from all ministries, states and union territories, apart from other autonomous bodies and defense forces. It is estimated that which department or ministry needs how much fund. Apart from this, the details of how many funds are needed for different public welfare schemes are also sought. Accordingly, funds are allocated for different ministries in the budget.
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The Finance Ministry prepares this estimate on the basis of the figures of the amount collected in the previous financial year from the Income Tax Department, Custom Duty Department and Central Excise Department. Based on these figures, the potential income is estimated. Now, on the basis of this estimate, a proposal to fix tax (for the coming year) is prepared.
more than 100 officers
Two days before the budget, the part of the Finance Ministry in the North Block is completely sealed. It all ends only after the completion of the budget speech of the Finance Minister and the laying of the Finance Bill. More than 100 officers of the Ministry of Finance work day and night in the budget press for the printing of the budget. Explain that the entire process related to budget making is coordinated by an officer of the Joint Secretary level of the Ministry of Finance. From preparing the budget to fixing the time of meetings and printing of the budget, all the work is done through this officer.
These people are involved in preparing the budget
Let us tell you that in the process of making the budget, talks are held with every ministry, but mainly the role of Finance Secretary, Revenue Secretary and Expenditure Secretary is important. All these give the estimated details of expenditure and earnings to the Finance Minister. Till the time the budget is not presented, the rounds of meetings go on.
At the same time, experts from different fields also work in the budget team. Not only this, the budget team of the Finance Minister also needs a Chief Economic Advisor. This team gets guidance from the Prime Minister from time to time. At the same time, many times changes are also made on the demands and suggestions of different organizations.
budget is kept secret
The process of making the budget is kept so secret that until it is presented in the Parliament, no one gets to know about it. The Finance Ministry is completely sealed two days in advance. The North Block office of the Finance Ministry is converted into an unannounced ‘prison’ a few days before the presentation of the budget. Some employees associated with the printing of the budget have to stay here day and night under the strict vigil of the police and security agencies.