What is the supplementary budget?

What is the supplementary budget?

A supplementary budget is a request by state departments and agencies for additional funding in the course of a financial year. It is meant to take care of expenditure that was not factored in during budget-making.

What is the purpose of supplementary budget?

Supplementary Budget means a budget approved in situations where the revenue budget appropriated for activities of the Government to be carried out in a fiscal year is not sufficient or where a budget is required for an activity of the Government to which budget is not appropriated or where the expenditure budget …

What is Supplementary finance?

Supplementary financing refers to the use of economic assis- tance to reduce the damage caused to less developed economies by unpredictabil- ity of export proceeds.

What is a budget virement?

2.1 A virement is a self-balancing transfer of budgets. Financial Regulation 1 states that (without Council approval) expenditure may be incurred only to the extent that budgetary provision has been made. Virement is one mechanism by which budgets are adjusted to allow additional expenditure to take place.

What is Supplementary budget in india?

Definition: The additional grant required to meet the required expenditure of the government is called Supplementary Grants. Description: When grants, authorised by the Parliament, fall short of the required expenditure, an estimate is presented before the Parliament for Supplementary or Additional grants.

What is a deficit budget?

What Is a Budget Deficit? A budget deficit occurs when expenses exceed revenue, and it can indicate the financial health of a country. The government generally uses the term budget deficit when referring to spending rather than businesses or individuals. Accrued deficits form national debt.

What is meant by interim budget?

An interim budget is technically just like the full budget, but only for a temporary period. Like the Union budget, it contains a complete set of accounts, including expenditure and receipts. And like the full budget, the estimates are presented for the whole year.

What is subsidiary budget?

Subsidiary Budget means all budgets, excluding the primary budget. Currently, the subsidiary budgets are the organizational budget and the special events budget, but shall also include all future budgets except the primary budget.

What are the types of budgeting?

The Four Main Types of Budgets and Budgeting Methods

  • Incremental budgeting.
  • Activity-based budgeting.
  • Value proposition budgeting.
  • Zero-based budgeting.
  • Imposed budgeting.
  • Negotiated budgeting.
  • Participative budgeting.

What virement means?

an administrative transfer of budgetary funds
Definition of virement : an administrative transfer of budgetary funds.

What is purpose of virement?

What is the Purpose of Virements? Virements are among a number of tools to deal with the uncertainties that arise during the course of budget execution and result in the need to vary the allocation of government expenditure.

What is deficit budget and surplus budget?

A budget deficit occurs when expenses (expenditures) exceed income (revenue). A Budget surplus is the opposite of a budget deficit, this occurs when revenue exceeds expenses. Individuals, organizations and governments can have a budget deficit.

What are the three types of government budgets?

Government budget can be of three types:

  • Balanced budget: when government receipts are equal to the government expenditure.
  • Deficit budget: when government expenditure exceeds government receipts. A deficit can be of 3 types: revenue, fiscal and primary deficit.
  • Surplus: when government receipts exceed expenditure.

What is the difference between interim budget and full budget?

What is the difference between budget and interim budget? Ans. A regular budget is presented for the whole financial year. An interim budget is presented when the government does not have the time to present a full budget or if there are general elections happening shortly.

What is a supplemental budget?

Supplemental Budget means each supplemental or replacement budget to the Initial Budget, in each case in form and substance satisfactory to the Requisite Lenders in their sole discretion, and in each case delivered in accordance with Section 5.1 (q) ( covering any time period covered by a prior budget or covering additional time periods ).

What are supplementary estimates in government terms?

In government terms they are bills that alter how the money the government has is spent. Each year the treasurer hands down the budget, detailing the financial expenditure for the next financial year, supplementary estimates are used if this were to change. Why supplementary units are called supplementary units?

What is the meaning of annual budget?

Annual Budget means the operating budget, including all planned capital expenditures, for the Property prepared by Borrower for the applicable Fiscal Year or other period. Initial Budget has the meaning given such term in Section 11.01.

What is the purpose of the budget tool?

Tool used by Treasury to align what has been spent prior to parliament’s approval. • It is drawn to take care of expenditure that was not foreseen during the budget-making process by the National Assembly in collaboration with the National Treasury.