Outcome budget its relevance in the

Your business plan should help in establishing projected sales, cost of sales, fixed costs and overheads, so it would be worthwhile preparing this first. See the page in this guide on planning for business success. You can look at costs and work out ways to reduce them. You can see if you are likely to have cash flow problems, giving yourself time to do something about them.

The vision of the group is to help the students by providing necessary reading materials both in Assamese and English language. Your cooperation is solicited. The budget is also known as the Annual Financial Statement of the country.

This document estimates the anticipated government revenues and government expenditures for the ensuing financial year. Outcome budget is one of the most popular techniques of budgeting which measures the development outcomes of all government programmes.

What is Outcome Budget? An outcome budget measures the development outcomes of all government programmes. It tells a citizen if money has been allocated for a developmental project, has indeed come up.

In other words it is a means to develop a linkage between the money spent by a government and the results which follow. The Outcome Budget is a progress card on what various ministries and departments have done with the outlay announced in the annual budget. It will also tell us if the money has been spent for the purpose it was sanctioned and the outcome of the fund-usage.

Outcomes are indicators showing the progress in achieving programme objectives, such as infrastructure improvement, decline in diseases, improvement in agricultural production, and achievements in education.

These are not directly under the control of the programme managers due to the effect of many other extraneous factors. The Outcome Budget is expected to sharpen the budgetary projections by listing the projected outcomes under various schemes programmes. The outcomes are expected results not only in terms of monetary units or physical infrastructure but also in terms of qualitative targets and achievements.

Outcome budgeting is expected to lead to efficient service delivery, transparency, and accountability. Relevance of Outcome Budgeting in India SinceGovernment departments had been preparing performance budgets trying to link financial aspects to physical results. However, this remained a supplementary device without any perceptible impact on resource allocation.

The performance-oriented budgets provide information on the use of public resources, as against the conventional Budget indicates the resources allocated to various programmes and schemes of the Government, but does not focus so much on the use of those resources to achieve certain agreed results.

Taking along people of different socio-economic strata as part of an inclusive growth process requires effective use of resources.

This objective is easy to fulfill by following outcome budgeting. Performance budgeting is not new in India. The outcome budget in India provides an opportunity, which needs to be strengthened and taken forward. The important factors in this context are the ability to prepare measures under different Government programmes to evaluate results, and utilize this performance information in shaping the Budget decisions, both in programme formulation and resource allocation.

It is expected to change the mindsets of government officials to become more result oriented, instead of outlay centric. The Outcome Budget will discipline various ministries in their spending by ensuring that they do not stagger it towards the last quarter of the fiscal. The Outcome Budget is also aimed at changing the outlook of the government officials.

The idea is to make government representatives more result-oriented and keep them from delaying projects and asking for more expenditure to meet the spiraling costs.

Outcome budgeting in India will help to release information on spending by various ministries for public scrutiny.

3RD GENERATION ECONOMICS: Outcome Budget and it's Relevance in India

This will ensure that everyone: The Outcome Budget will also help gauge the effectiveness of the money spent on various heads by different ministries. It will also help ensure that programmes and schemes do not continue indefinitely from one Plan period to the next, without an independent, in-depth evaluation.

India is the third largest economy PPP and also it is the largest democracy. The budget announced here is obviously of vast scale with large number of schemes and developmental programmes.

Implementation of all the programmes within the targeted period is not an easy thing. Outcome budgeting will make the system more systematic leading to better implementation of the budgetary programmes. Corruption in India has become an open secret. Every year huge amount of money is granted to spend in various developmental programmes but their true implementation and outcome is not known.

Outcome budget will distinctly show the projected outcome and the true use of money can be hoped under the system. Conclusion The Outcome Budget is expected to ensure efficient service delivery, transparency and accountability which are the urgent needs of India.

What is Outcome Budget?

Some may argue that preparing an outcome budget is a lengthy process and experts are necessary for this purpose; but this argument is nullified by the merits of outcome budget.

In summation, outcome budget is very much relevant in India.A budget is a planning tool necessary for building a framework for your business and its finances.

Combining past trends with realistic forecasts for the fiscal year, a budget provides a detailed view of assets, realistic revenue expectations, and how those balance against your anticipated expenses. The “Outcome Budget” reflects the endeavor of the Government to convert “Outlays” into “Outcomes” by planning expenditure, fixing appropriate targets and quantifying deliverables of each scheme.

The “Outcome Budget” is an effort of the Government to be transparent and accountable to the people. Relevance of Silence in the.

IN ADDITION TO READING ONLINE, THIS TITLE IS AVAILABLE IN THESE FORMATS:

Because the company’s financial budgets and its capital budgets are, in part, based on the figures contained in the operational budget, the budget should reflect management’s best estimates of.

The Department has prepared “Outcome Budget The Department of Space is largely project and mission oriented.

The nature of Outcome of the Space Programmes will be mainly in the form of (a) Indigenous capability to develop and realise and ground technical infrastructure of relevance for future and (d) Benefits to the society. Below is the uncorrected machine-read text of this chapter, intended to provide our own search engines and external engines with highly rich, chapter-representative searchable text of each book.

Seven years ago, in , India showed its interest in adopting outcome budgeting her interest to join the move towards outcome budgeting with the then finance minister, P.

Chidambaram presenting the country’s first ever ‘outcome budget’, which was more in the nature of a .