75 Years of Central Government Budgets (1947-48 to 2021-22) and Finance Commissions of India (I to XV) (Record no. 40408)

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020 ## - INTERNATIONAL STANDARD BOOK NUMBER
International Standard Book Number 9788177085303
041 ## - LANGUAGE CODE
Language English
082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER
Classification number 352.480
Item number SUR
100 ## - MAIN ENTRY--PERSONAL NAME
Personal name Sury, M.M.
245 ## - TITLE STATEMENT
Title 75 Years of Central Government Budgets (1947-48 to 2021-22) and Finance Commissions of India (I to XV)
Statement of responsibility, etc M.M. Sury
260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT)
Place of publication, distribution, etc New Delhi :
Name of publisher, distributor, etc New Century Publications,
Date of publication, distribution, etc c2021.
300 ## - PHYSICAL DESCRIPTION
Extent 278p.:
Other physical details Hardbound
Dimensions 7½ x 9¾
505 ## - FORMATTED CONTENTS NOTE
Contents Part I: Government Budgeting Procedures in India<br/> <br/>1. Government Budgeting: Conceptual Framework<br/>1.1 Significance of Government Budgeting<br/>1.2 Government Budgeting versus Private Budgeting<br/>1.3 Canons of Government Budgeting<br/>1.4 Incremental Budgeting<br/>1.5 Zero-base Budgeting (ZBB)<br/>1.6 Functional, Economic and Cross-classification of the Budget<br/>1.7 Gender Budgeting<br/> <br/>2. Phases of Budgetary Cycle in India<br/>2.1 Preparation of the Budget<br/>2.2 Legalisation of the Budget<br/>2.3 Execution of the Budget<br/>2.4 Auditing of Accounts<br/> <br/>3. Contents and Explanation of Budget Documents<br/>3.1 Budget Speech of the Finance Minister<br/>3.2 Annual Financial Statement<br/>3.3 Demands for Grants<br/>3.4 Finance Bill<br/>3.5 Macroeconomic Framework Statement<br/>3.6 Medium-term Fiscal Policy-cum-Fiscal Policy Strategy Statement<br/>3.7 Expenditure Budget<br/>3.8 Receipts Budget<br/>3.9 Expenditure Profile<br/>3.10 Memorandums Explaining the Provisions in the Finance Bill<br/>3.11 Budget at a Glance<br/>3.12 Output Outcome Monitoring Framework<br/>3.13 Key Features of Budget<br/>3.14 Implementation of Budget Announcements<br/>3.15 Budget-related Documents<br/>3.16 Financial Emergency<br/> <br/>4. Parliamentary Control over the Budget<br/>4.1 Public Accounts Committee<br/>4.2 Estimates Committee<br/>4.3 Committee on Public Undertakings<br/> <br/>5. Components and Structure of Central Government Budget 2021-22<br/>5.1 Revenue Budget<br/>5.2 Capital Budget<br/>5.3 Various Measures of Budget Deficit and Their Significance<br/>5.4 Budget and the External Sector<br/> <br/>6. Budgetary Reforms in India<br/>6.1 Fiscal Responsibility and Budget Management (FRBM) Act, 2003<br/>6.2 Fiscal Responsibility Legislations by States<br/>6.3 Budgetary Reforms Suggested by Eleventh Finance Commission (XI-FC)<br/>6.4 Budgetary Reforms Suggested by Twelfth Finance Commission (XII-FC)<br/>6.5 Budgetary Reforms Suggested by the Committee on Capital Account Convertibility<br/>6.6 Gender Budgeting in India<br/>6.7 Recent Budgetary Reforms<br/>6.8 Digitisation of the Budget<br/> <br/>7. Highlights of Central Government Budgets in India: 1947-48 to 2021-22<br/> <br/>Part II: Centre-State Financial Relations (Fiscal Federalism) in India<br/> <br/>8. Federation and Fiscal Federalism: Conceptual Settings<br/>8.1 Meaning and Features of a Federation<br/>8.2 Economic Basis of Decentralisation<br/>8.3 Advantages of Decentralised Decision-making<br/>8.4 What is Fiscal Federalism?<br/>8.5 Problems of Multi-level Finance: Vertical and Horizontal Imbalances<br/>8.6 Financing of Public Expenditure<br/>8.7 Earmarking of Revenue<br/> <br/>9. Nature and Features of Indian Federation<br/>9.1 Constitution and India’s Federal Structure<br/>9.2 Division of Powers<br/>9.3 Centrally Biased Constitution and its Justification<br/>9.4 Commission on Centre-State Relations, 1988<br/> <br/>10. Centralisation of Revenues and the Need for and Channels of Transfers to States<br/>10.1 Centralisation of Revenues<br/>10.2 Need for Inter-governmental Transfers<br/>10.3 Channels of Central Transfers to the States<br/>10.4 Claims and Counter-claims for Financial Resources<br/> <br/>11. Fiscal Federalism and the Role of Finance Commission<br/>11.1 Evolution of Fiscal Federalism in India<br/>11.2 Appointment and Duties of the Finance Commission<br/>11.3 Powers and Procedures<br/>11.4 Nature of Finance Commission Recommendations<br/> <br/>12. Finance Commission and Vertical Distribution of Resources<br/>12.1 Itemised Sharing of Revenue between the Centre and the States Prior to Constitution (Eightieth Amendment) Act, 2000<br/>12.2 From Itemised to Globalized Sharing of Revenue between the Centre and the States after the Constitution (Eightieth Amendment) Act, 2000<br/>12.3 Overall Ceiling<br/> <br/>13. Finance Commission and Horizontal Distribution of Resources<br/>13.1 Inter Se Distribution of States’ Share in Central Taxes Prior to Constitution (Eightieth Amendment) Act, 2000<br/>13.2 Inter Se Distribution of States’ Share in Central Taxes after the Constitution (Eightieth Amendment) Act, 2000<br/>13.3 Grants-in-aid of Revenues<br/> <br/>14. Constitution (One Hundred and First Amendment) Act, 2016, Goods and Services Tax (GST) and the Changed Landscape of Fiscal Federalism in India<br/>14.1 From Mutually Exclusive to Concurrent Powers of Taxation<br/>14.2 Compensation to States for the Loss of Revenue Due to GST Implementation<br/>14.3 GST and Co-operative Federalism<br/>14.4 Enhanced Need for Co-operative Federalism in the 21st Century<br/> <br/>15. First Finance Commission (I-FC): 1952-53 to 1956-57<br/>15.1 Financial Assistance to States: Approach of I-FC<br/>15.2 Devolution and Distribution of Income Tax<br/>15.3 Devolution and Distribution of Union Excise Duties<br/>15.4 Grants-in-aid of Revenues<br/>15.5 Permanent Secretariat for the Finance Commission<br/> <br/>16. Second Finance Commission (II-FC): 1957-58 to 1961-62<br/>16.1 Devolution and Distribution of Income Tax<br/>16.2 Devolution and Distribution of Union Excise Duties<br/>16.3 Grants-in-aid of Revenues<br/>16.4 Distribution of Estate Duty<br/>16.5 Miscellaneous<br/> <br/>17. Third Finance Commission (III-FC): 1962-63 to 1965-66<br/>17.1 Distribution of Estate Duty<br/>17.2 Devolution and Distribution of Income Tax<br/>17.3 Devolution and Distribution of Union Excise Duties<br/>17.4 Grants-in-aid of Revenues<br/> <br/>18. Fourth Finance Commission (IV-FC): 1966-67 to 1968-69<br/>18.1 Distribution of Estate Duty<br/>18.2 Grant in Lieu of Tax on Railway Passenger Fares<br/>18.3 Devolution and Distribution of Income Tax<br/>18.4 Devolution and Distribution of Union Excise Duties<br/>18.5 Principles Governing Grants-in-aid of Revenues<br/> <br/>19. Fifth Finance Commission (V-FC): 1969-70 to 1973-74<br/>19.1 Devolution and Distribution of Income Tax<br/>19.2 Devolution and Distribution of Union Excise Duties<br/>19.3 Additional Duties of Excise in Lieu of Sales Tax<br/>19.4 Grants-in-aid of Revenues<br/> <br/>20. Sixth Finance Commission (VI-FC): 1974-75 to 1978-79<br/>20.1 Devolution and Distribution of Income Tax<br/>20.2 Devolution and Distribution of Union Excise Duties<br/>20.3 Additional Duties of Excise<br/>20.4 Grant in Lieu of Tax on Railway Passenger Fares<br/>20.5 Distribution of Estate Duty<br/>20.6 Grants-in-aid of Revenues<br/> <br/>21. Seventh Finance Commission (VII-FC): 1979-80 to 1983-84<br/>21.1 Distribution of Estate Duty<br/>21.2 Additional Duties of Excise<br/>21.3 Grant in Lieu of Tax on Railway Passenger Fares<br/>21.4 Devolution and Distribution of Income Tax<br/>21.5 Devolution and Distribution of Union Excise Duties<br/>21.6 Upgradation of Standards of Administration<br/> <br/>22. Eighth Finance Commission (VIII-FC): 1984-85 to 1988-89<br/>22.1 Approach of the Commission on Financial Transfers<br/>22.2 Reassessment of the Revenue and Expenditure Forecasts<br/>22.3 Devolution and Distribution of Income Tax<br/>22.4 Devolution and Distribution of Union Excise Duties<br/>22.5 Additional Duties of Excise<br/>22.6 Grants-in-aid of Revenues<br/>22.7 General Observations<br/> <br/>23. Ninth Finance Commission (IX-FC): 1989-90 to 1994-95<br/>23.1 First Report (for the year 1989-90)<br/>23.2 Second Report (for the years 1990-91 to 1994-95)<br/> <br/>24. Tenth Finance Commission (X-FC): 1995-96 to 1999-2000<br/>24.1 Devolution and Distribution of Income Tax<br/>24.2 Devolution and Distribution of Union Excise Duties<br/>24.3 Distribution of Additional Duties of Excise<br/>24.4 Grants in Lieu of Tax on Railway Passenger Fares<br/> <br/>25. Eleventh Finance Commission (XI-FC): 2000-01 to 2004-05<br/>25.1 States Share in All Central Taxes and Duties<br/>25.2 Distribution of the Share of States Inter Se<br/>25.3 Grants-in-aid of Revenues of States<br/>25.4 Ceiling on Total Revenue Account Transfers<br/> <br/>26. Twelfth Finance Commission (XII-FC): 2005-06 to 2009-10<br/>26.1 Sharing of Union Tax Revenues<br/>26.2 Vertical Sharing<br/>26.3 Horizontal Sharing<br/>26.4 Grants-in-aid to States<br/>26.5 Restructuring Public Finances<br/> <br/>27. Thirteenth Finance Commission (XIII-FC): 2010-11 to 2014-15<br/>27.1 Sharing of Union Tax Revenues<br/>27.2 Criteria and Weights for Determining Inter Se Shares of States<br/>27.3 Grants-in-aid to States<br/>27.4 Disaster Relief<br/> <br/>28. Fourteenth Finance Commission (XIV-FC): 2015-16 to 2019-20<br/>28.1 Sharing of Union Tax Revenues<br/>28.2 Criteria and Weights for Determining Inter se Shares of States<br/>28.3 Grants to Local Bodies<br/>28.4 Financing of Disaster Relief<br/> <br/>29. Fifteenth Finance Commission (XV-FC): 2020-21 to 2025-26<br/>29.1 Extension of the Tenure of XV-FC<br/>29.2 First Report of XV-FC for 2020-21<br/>29.3 Second Report of XV-FC for 2021-22 to 2025-26<br/> <br/>Select Bibliography<br/>Index
520 ## - SUMMARY, ETC.
Summary, etc Finance is the life blood of a government. Arrangements for finance are more complicated in a federal set up than in a unitary form of government. A federal system creates a multiple polity based on divided functions and powers among central and state governments. Fiscal federalism, as a branch of public finance, deals with financial arrangements and their working in a federal polity.<br/><br/>As a financial blueprint of a government, budget is an important instrument to carry out its policies and programmes. It is through the budget that a government arranges financial resources and allocates them among competing uses. 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. The level and composition of taxes influence the allocation of resources among various sectors of the economy, distribution of income among different economic classes, and macro management of the economy. Similarly, the borrowing policy of the Central Government affects the amount of national savings available to the private sector for consumption and investment. No less important are the effects of massive public expenditure on production, distribution and economic stabilization.<br/><br/>Budget is not merely a statement of government accounts. It reflects the government’s vision and signals the policies to come in future. Budget is also the chief source of government finance statistics to facilitate research and decisions on fiscal and economic matters.<br/><br/>In India, the Central Government budget is designed mainly to ensure Parliamentary control and accounting scrutiny. Each year the Government has to obtain the authority of the Parliament to raise revenues to meet its expenditure. Budget of the government is perhaps the most important annual item on the agenda of the Parliament. Budget papers of the Government of India provide glimpses of the events, challenges and perceptions of the leaders. They highlight contemporary problems of the Indian economy and policy measures taken by the government to solve them, making for a fascinating study of India’s march towards development.<br/><br/>Fiscal federalism is a subject of topical interest in India in view of some recent developments of historical importance. The Constitution (Eightieth Amendment) Act, 2000, significantly changed the manner of distribution of Central tax collections between the Central and State Governments. Prior to this Amendment, income tax and Union excise duties were the only taxes shared with the States. This Amendment altered the pattern of sharing of Central taxes between the Centre and the States by providing for the sharing of the net proceeds of all Union taxes and duties with the States.<br/><br/>Enactment of the Constitution (One Hundred and First Amendment) Act, 2016 and the subsequent introduction of Goods and Services Tax (GST) from July 1, 2017, marked a clear departure from the initial scheme of distribution of taxation powers between the Centre and the States envisaged in the Constitution. Prior to enactment of the said Act, taxation powers between the Centre and the States were clearly demarcated in the Constitution of India with no overlaps between their respective domains. With the introduction of GST, fiscal federalism in India has moved from mutually exclusive to concurrent powers of taxation for the Centre and the States.<br/><br/>Recommendations of the Finance Commission constitute the core of fiscal federalism in India. Finance Commission is a unique feature of the Indian Constitution without parallel in the existing federal constitutions of the world. Reports of the Finance Commissions provide in-depth insights into problems and their solutions in the highly complex area of federal finance. These Reports examine in detail, contemporary issues in Centre-State financial relations and recommend measures to solve them.<br/><br/>Spread over 29 chapters, the book is organized into 2 parts.<br/><br/>Part I (chapters 1 to 7) is titled Government Budgeting Procedures in India. This part provides conceptual framework for budgetary techniques, phases of budgetary cycle of the Government of India, parliamentary controls over the budget, components and structure of the budget, budgetary reforms and other topics related to the subject. It also includes highlights of each Central Budget from 1947-48 to 2021-22. <br/><br/>Part II (chapters 8 to 29) is titled Centre-State Financial Relations (Fiscal Federalism) in India. This part covers conceptual settings for fiscal federalism, nature and features of Indian federation, centralization of revenues and channels of transfers to states, role of the Finance Commission, vertical distribution of resources, horizontal distribution of resources, and Constitution (One Hundred and First Amendment) Act, 2016, and the changed landscape of fiscal federalism in India. It also includes highlights and summary of each Finance Commission Report from First Finance Commission to Fifteenth Finance Commission.<br/><br/>This work would prove useful for 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.
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    Dewey Decimal Classification     Non-fiction CUTN Central Library CUTN Central Library Social Sciences 20/11/2023   352.480 SUR 48147 20/11/2023 20/11/2023 General Books