The budgeting process is planned as per changes forecast last year
An incremental budget treats existing programmes and departments as already approved, subject only to increases or decreases in the financial resources allocated. The organisation’s historical costs are the base from which budget planning starts. The focus of budgeting process is on the changes anticipated in the last year’s figures. If the government is in a fairly stable environment, this approach may be satisfactory, provided there is a thorough review.
BSE Sensex is skyrocketing to near 20,000 points, glorifying our capital markets, FDI and FIIs are entering the Indian market in a major way, all of it giving a very fairy tale kind of a rosy picture of our economy. But what people fail to see, however, are the bottom 35% of our population, who live below the poverty line.
An incremental budget treats existing programmes and departments as already approved, subject only to increases or decreases in the financial resources allocated. The organisation’s historical costs are the base from which budget planning starts. The focus of budgeting process is on the changes anticipated in the last year’s figures. If the government is in a fairly stable environment, this approach may be satisfactory, provided there is a thorough review.
BSE Sensex is skyrocketing to near 20,000 points, glorifying our capital markets, FDI and FIIs are entering the Indian market in a major way, all of it giving a very fairy tale kind of a rosy picture of our economy. But what people fail to see, however, are the bottom 35% of our population, who live below the poverty line.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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Professor Arindam Chaudhuri - A Man For The Society….
IIPM: Indian Institute of Planning and Management
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