Ways
and Means
Meaning: Methods & Resources for raising
the necessary revenues for the expenses of a Nation/Country.
Monitoring by: Budget Division of Department of
Economic Affairs under Ministry of Finance.
Object: To keep a watch over the progress
of Actual with the Estimates (Budget) and follow up Ways & Means position
of Govt of India.
Financial
Review of Govt of India, wherein the Receipts and Expenditure position is
monitored closely.
Ways & Means in IR - Account Current of Indian
Railways as a whole is sent to Ministry of Finance for incorporating the
figures of Railways Receipts and Expenditure as a part of Ways and Means of
Govt of India.
The
Review should be as realistic as possible.
That is the reason; IR is switching over from Double Account Current to
Single Account Current from the year 2017 October onwards, duly dispensing the
Approximate Account Current.
For
the purpose of Ways & Means, the Ministry of Finance receives Monthly
Report (in the form of Account Current) consisting of Cash inflows and Cash outflows
from all Ministries including Indian Railways. |
Ways and Means – 4 parts |
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Revenue |
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Expenditure |
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Debt |
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Remittances |