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Showing posts with label income tax. Show all posts
Showing posts with label income tax. Show all posts

Budget - Concepts and Terminologies

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Budget : Concepts and Terminologies

 

Budget of a government is a comprehensive statement of government finances relating to a particular year. Every Budget broadly consists of two parts- (i) Expenditure Budget and (ii) Receipts Budget. 

The amounts of intended expenditure by the Government in the next financial year are expressed in the Expenditure Budget. 

The entire Expenditure Budget can be divided into two distinct categories, viz. 

i) Capital Expenditure : those expenditures by the government that lead to an increase in the assets or a reduction in the liabilities of the government. It is however not necessary that the assets created should be productive or they should even be revenue generating. Only the charges towards the construction of the asset are counted as Capital expenditure, while the subsequent charges for its maintenance are considered as Revenue expenditure. Most capital expenditure is nonrecurring.  

- Examples of Capital Expenditure causing ‘increase in assets’: construction of a new Flyover, Union Govt. giving a Loan to a State Govt. 

- Examples of Capital Expenditure causing ‘reduction of a liability’: Union Govt. repays the principal amount of a loan it had taken in the past. 

National E-Governance Plan, India

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National e-Governance Plan: Vision, Challenges and the Way Forward
 
 

The National e-Governance Plan (NeGP) is the most significant initiative taken in India during the last decade to mainstream ICT in governance at both central and state levels
 

 
E-governance in India owes its origins to the inhouse development of applications during the 1970s and 1980s in defence, economic planning, census, tax administration and elections. Subsequently, massive efforts were made during the 1980s by the National Informatics Centre (NIC) to connect all the district headquarters in the country through  a VSAT network. However, all these efforts were mainly government centric with the primary objective of exploiting Information and Communication Technologies (ICTs) for automating internal government functions. Citizen centricity with a focus on improving delivery of services to the citizens was not the primary goal during this period. In the late 1980s, a few computerization initiatives in the government started making an impact on citizen services. 
 
The most prominent among these was the computerization of the passenger reservation system by the Indian Railways (Ramani, 1991). E-governance during this period received a major thrust with the launch of NICNET in 1987, followed by the launch of DISNIC that aimed at computerizing all the district offices in the country (2ndAdministrative Reforms Commission, 2008). During the 1990s, several government departments at both central and state levels launched projects aimed at deploying ICTs for improving services to citizens. Initial attempts were made by some government departments during the latter half of this decade to use the World Wide Web mainly for providing information to the citizens. Several states, particularly the southern states, achieved significant successes in using e-governance to improve delivery of services to the citizens during this period. This trend continued during the early years of the last decade with several states across the country implementing citizen-centric e-government projects. However, these initiatives were isolated and fragmented due to lack of adequate and integrated ICT infrastructure reaching down to the block and village levels, lack of comprehensive backend computerization, lack of connectivity, and lack of adequate capacity at all levels of government to efficiently deploy ICTs for improving the quality of governance. The National e-Governance Plan (NeGP), conceptualized in the early part of the last decade, aimed at addressing all these deficiencies.  


 

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