Chapter 18 — CAM

BUDGETING, ITS FORMULATION AND EXECUTION 18.1 INTRODUCTION 18.1.1 Department of Expenditure, Ministry of Finance issued Revised Charter for Financial Advisers (FAs) vide OM no. 23(3)/E.Coord./2018, dated June 13, 2023, defining their roles, responsibilities, accountability, and authority.

18.2 BUDGETING IN GOVERNMENT OF INDIA 18.2.1 Budgeting exercise is not only cyclical, but a continuous process. Budget formulation is just the beginning of this process. This first stage (Budget Estimates (BE)) is based on expenditure patterns of past year(s), committed liabilities of current and anticipated financial commitments of next financial year.