)
Starting the budgetary exercise, the Finance Ministry has issued a budget circular, asking various departments to give their estimates of revenue and expenditure in a given format for 2012-13 and 2013-14 by specified time frames. This is the first part of the budgetary exercise.
On the basis of these estimates, the ministry will then estimate the revised estimate for 2012-13 and budget estimate for 2014-15.
It should be noted that the United Progressive Alliance government will present interim budget in February, 2014. A government can only present five full budgets.
