Budget in early July
THE Joint Secretary in the Department of Economic Affairs, Finance Ministry has informed all the Financial Advisors that the Regular Budget for the Financial Year 2014-15 is likely to be presented in early July.
He informs that allocations projected in the interim budget are not generally halted. However, cases of schemes/decisions, which have the effect of raising expenditure commitments, may be sent to the Budget Division for examination. In case the additionality is agreed to by this Ministry, then revised Statements of Budget Estimates (SBEs) would need to be forwarded to Budget Division.
For such cases, necessary approvals have to be obtained on or before 9th June, 2014 so that the revised SBEs can be forwarded to the Budget Division latest by 19th June, 2014.
He clarifies that that additionality will only be for committed liabilities.