Panel Set Up to Pre­pare New Bud­get For­mat

The Economic Times - - Economy -

The gov­ern­ment has set up a panel to pre­pare a new for­mat of Bud­get state­ments and fi­nance ac­counts to clas­sify all ex­pen­di­ture of states as well as the Cen­tre on ‘rev­enue’ or ‘cap­i­tal’ ba­sis from 2017-18. This new clas­si­fi­ca­tion , which will re­place Plan and Non-Plan dis­tinc­tion, will fa­cil­i­tate link­ing ex­pen­di­ture to out­come and bet­ter pub­lic ex­pen­di­ture man­age­ment, sim­pli­fi­ca­tion of ac­count­ing heads and group­ing of ex­pen­di­ture as rev­enue or cap­i­tal would re­flect di­rec­tion of pub­lic ex­pen­di­ture in a bet­ter way.


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