BAJAJ BROKING
Definition: An Appropriation Bill allows the government to make use of the required funds from the Consolidated Fund of India, to meet the expenses of the financial year.
The Consolidated Fund of India is like the country’s savings account gathering all of its income into one pot. To spend this money on national expenses, the government needs approval from the Parliament, State Legislature approval and the President, as outlined in Article 114. If there's a mismatch between proposed and actual spending, the Comptroller and Auditor General (CAG) reports it to the legislatures for review. Simply put, it's like a child being allowed to use their pocket money, but with permission and under the watchful eye of the elders.
Here’s how the Appropriation Bill is carried out:
The Appropriation Bill is introduced in the Lok Sabha after discussing the Budget
After the Lok Sabha passes it, the bill goes to the Rajya Sabha.
Once the president approves it, the bill becomes an Appropriation Act.
The Appropriation Act automatically comes to an end when its purpose is completed.
The government can’t access money from the Consolidated Fund of India until the Appropriation Act is in place
To handle immediate expenses, the Lok Sabha can grant money in advance for part of the year. This is called a ‘Vote on Account’.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory. For All Disclaimers Click Here.
Share this article:
Samvardhana Motherson invests $15M in REE Automotive
16 Sep, 2024 | 4 Min. read
India raises edible oil import duty by 20%
16 Sep, 2024 | 4 Min. read
Commodities Market Today | Brent crude rebounds to $71.78, gold rises 1.1%
16 Sep, 2024 | 1 Min. read
Share Market Today | Gift Nifty suggests 50-point gap up opening for Nifty
16 Sep, 2024 | 4 Min. read
Gold Rate Today | Gold rises 1.1% to $2,609, silver gains 3.2% to $31
16 Sep, 2024 | 2 Min. read
M&M Financial to enter mortgage business with ₹20-30 crore investment
16 Sep, 2024 | 4 Min. read
Adani Green and Adani Power to Supply 6,600 MW Power to Maharashtra
16 Sep, 2024 | 4 Min. read
Thermax arm secures Rs 516 cr repeat order for Botswana project
16 Sep, 2024 | 4 Min. read
Bajaj Housing Finance shares debut with 114% premium
16 Sep, 2024 | 4 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
16 Sep, 2024 | 4 Min. read
Paramount Speciality Forgings IPO
14 Sep, 2024 | 3 Min. read
OSEL Devices IPO Price, Analysis, Objective & How to Apply
14 Sep, 2024 | 1 Min. read
Analysis to Become a Pro Investor
28 Dec, 2023 | 4 Min. read
Women In Real Estate Investing (Investree)
28 Dec, 2023 | 5 Min. read
How To Check Prudent Corporate Advisory IPO Allotment Status
27 Dec, 2023 | 3 Min. read
How To Boost Credit Score? – Steps to Improve Creditworthiness
27 Dec, 2023 | 4 Min. read
Advantages and Disadvantages of Opening Multiple Demat Accounts
26 Dec, 2023 | 4 Min. read
7th CPC LTC: Leave Travel Concession Rules for Central Government Employees
26 Dec, 2023 | 4 Min. read
7th Pay Commission: House Building Advance (HBA) Interest Rate FY 2023-24
26 Dec, 2023 | 5 Min. read
The Future of Trading: Exploring Bajaj Broking’s Demat Features
26 Dec, 2023 | 6 Min. read
7th Central Pay Commission Cpc Fitment Table
23 Dec, 2023 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading