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Budget in Parliament Video Lecture | Indian Polity for UPSC CSE
FAQs on Budget in Parliament Video Lecture - Indian Polity for UPSC CSE
| 1. What is the budget in Parliament? |  |
Ans. The budget in Parliament refers to the process of reviewing and approving the government's proposed budget for the upcoming fiscal year. It involves discussions and debates among Members of Parliament to determine the allocation of funds to different sectors and government programs.
| 2. How does the budget in Parliament work? | |
Ans. The budget in Parliament begins with the presentation of the government's budget proposal by the Finance Minister. The proposal is then examined by various Parliamentary committees, such as the Standing Committee on Finance, who review and scrutinize the budget in detail. MPs have the opportunity to ask questions, propose amendments, and debate the allocations before voting on its approval.
| 3. What is the significance of the budget in Parliament? | |
Ans. The budget in Parliament is of utmost significance as it determines how public funds will be allocated to different sectors and programs. It reflects the government's priorities and policies, and its approval by Parliament ensures accountability and transparency in financial matters. The budget also provides an opportunity for lawmakers to discuss and debate economic policies and their impact on the country.
| 4. How does the budget in Parliament affect the economy? | |
Ans. The budget in Parliament has a direct impact on the economy as it influences the allocation of resources, government spending, and taxation policies. A well-designed budget can stimulate economic growth, promote investment, and address socio-economic challenges. It also helps in maintaining fiscal discipline and managing public debt, which are crucial for overall economic stability.
| 5. Can the budget in Parliament be rejected? | |
Ans. Yes, the budget in Parliament can be rejected if a majority of MPs vote against its approval. However, such instances are rare as the government usually ensures that its budget proposal is aligned with its majority in the Parliament. Rejection of the budget often leads to political instability and may prompt the government to either revise the proposal or call for early elections.
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