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Finance Ministry begins Budget exercise, seeks inputs

Various ministries have been asked to submit revised estimates of expenditure for 2014-15

Press Trust of India  |  New Delhi 

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The today initiated the Budgetary exercise for 2015-16 by seeking inputs from various Ministries and Departments.

"The circular for 2015-16 is hereby issued containing the timelines for submission to the along with prescribed formats," said an office memorandum.
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The circular also contains the compendium of instructions issued from time to time by Ministry of Finance on various issues.

Prescribing timelines for submission of proposals, discussion with Secretaries and finalisation of demand for grants, it asked officials to strictly adhere to the schedule.

The ministries have been asked to submit revised estimates of expenditure for 2014-15 and demand for grants for the next financial year beginning April 1, 2015.

The Budget, which contains revised estimates for the current financial year and estimates for the next fiscal, is presented by the Finance Minister in the on the last working day of February.

This would be the second of the Modi government.

Finance Minister Arun Jaitley presented the for 2014-15 on July 10, which was actually a follow-up of the interim presented by the then Finance Minister P Chidambaram.

Besides, the demand for grants, the will also have taxation proposals which form a part of the Finance Bill.

First Published: Fri, October 10 2014. 19:50 IST