What are the four different operations involved in the budgetary process?

Budget preparation, budget enactment, budget execution, budget analysis

Budget formulation, budget approval, budget implementation, budget review

Budget planning, budget auditing, budget allocation, budget evaluation

Budget estimation, budget approval, budget disbursement, budget assessment

What is the main responsibility of the Finance Ministry during the budget preparation?

Preparation of estimates for all government departments

Vetting and consolidation of estimates received from departments

Final approval of all proposed budget expenditures

Execution of budget activities and revenue collection

What is the Consolidated Fund used for in government finance?

Providing funds for new government schemes

Covering unforeseen expenditures and contingencies

Holding revenue from various sources of income

Making payments for all government expenses

What is the purpose of the Estimates Committee in the legislative control of public finance?

It prepares the initial budget estimates for government departments.

It ensures that budget estimates are accurately executed.

It examines the budget estimates to ensure they are prepared realistically.

It approves additional resources for new government schemes.

What is the purpose of "Votes on Account" in budget execution?

To provide additional funds for new projects

To cover expenditure for a part of the financial year before the regular budget is passed

To allocate funds for contingency purposes

To reduce the overall budget deficit

How does the role of the legislature in budget control differ between the USA and Anglo-Saxon countries?

The legislature in the USA has greater control over budget amendments.

The legislature in Anglo-Saxon countries has greater control over budget amendments.

The legislature in both the USA and Anglo-Saxon countries has equal control over budget amendments.

The role of the legislature in budget control is the same in all countries.

What is the primary role of the Finance Ministry during the budget execution phase?

Preparing detailed estimates for all government departments

Enacting the budget by passing it through the legislative process

Vetting and consolidating budget estimates received from departments

Regulating revenue collection and supervising expenditure

What is the main purpose of the Appropriation Bill in the budget process?

It specifies the revenue sources for the government.

It determines the budget deficit for the financial year.

It provides funding for various government programs and expenditures.

It outlines the economic policies of the government.

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