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The budget in India is not just a financial statement but a comprehensive policy document that guides the economic and social direction of the country. Analyse.

Topic: Government Budgeting.

4. The budget in India is not just a financial statement but a comprehensive policy document that guides the economic and social direction of the country. Analyse. (250 words)

Difficulty level: Easy

Reference: Down to Earth Insights on India

Why the question:

To start the process, the budget division issues an annual budget circular around the last week of August or the first fortnight of September every year.

Key Demand of the question:

To write about the weaknesses in the budgetary system and measures to overcome them.

Directive word:

Analyse – When asked to analyse, you must examine methodically the structure or nature of the topic by separating it into component parts and present them in a summary.

Structure of the answer:

Introduction: 

Begin by defining budget and major objectives of budgeting.

Body:

First, elaborate up on how budget provide framework of achieving annual objectives.

Next, write about the weaknesses in the budgetary system and its implementation – budget estimates, Skewed expenditure pattern, Poor planning and lack of long-term perspective etc.

Next, suggest measures to overcome the above weaknesses in order to ensure that budgetary objectives are achieved.

Conclusion:

Conclude by writing a way forward.