Rule 43 — GFR

Rule 43 (1) Presentation of Budget to Parliament. In accordance with the provisions of Article112 (1) of the Constitution, Finance Minister shall arrange to lay before both the Houses of Parliament, an Annual Financial Statement also known as the ‘Budget’ showing the estimated receipts and expenditure of the Central Government in respect of a financial year, before the commencement of that year.

Rule 43 (2) The receipts and expenditure of the Railways being a departmental commercial organization form part of the Government’s receipts and expenditure and are included in the Annual Financial Statement. With the merger of Railway Budget with the General Budget, the Demands for Grants and the Statement of Budget Estimates of Railways shall also be part of the General Budget with effect from 2017-18.

Rule 43 (3) The provisions for preparation, formulation and submission of budget to the Parliament are contained in Articles 112 to 116 of the Constitution of India.

Rule 43 (4) The Ministry of Finance, Budget Division, shall issue guidelines for preparation of budget estimates from time to time. All the Ministries/Departments shall comply in full with these guidelines.