4. What is vote on account? How is it different from normal budget? Discuss.
वोट ऑन अकाउंट क्या है? यह सामान्य बजट से अलग कैसे है? चर्चा करें ।
Vote on account under article 116 of the constitution of India is a kind of mechanism to withdraw money from consolidated from India to meet day to day expenditures of the government till the budget is passed for the new financial year.
It needs to be passed by Lok Sabha and is generally granted for two months for an equivalent amount of one- sixth of the total estimate.
Annual financial statement ( popularly known as Budget) contains details of both receipts and expenditures of the government. Union Budget (under article 112) and state’s budget (under article 202 ) provides for the receipts and expenditure to be incurred in the next financial year as well as details of budgetary estimates for the present and previous years.
A vote on account is different from the normal budget in following ways
- While vote on account is required for two months and granted for one – sixth of the budgetary estimate, budget provides details of expenditure and receipts for three financial years.
- While vote on account is temporary provision to meet expenditure until the budget is passed , Budget is a proforma of financial outlays of the government for the whole year.
- While vote on account deals with only expenditure side of the government , normal budget deals with both expenditure and revenue side of the government.
- While no changes are made to tax and duty structure and new schemes are not announced in vote on account ,in budget changes are made and new schemes can be announced
- Outgoing government presents vote on account only in election year , budget is presented in every financial year.
- Vote on account is passed by Lok Sabha without any discussion , budget passes after discussion and voting on demand for grant.
Thus it can be said that vote on account is also important part of budgetary provision of the constitution for successful running of the government.
Best answer : Monika sridevi