Best Practices in Budget Formulation
The Transparency International conducted a survey to analyse the best practices followed by the states in the Budget Formulation.
About the Survey
The survey was based on 4 parameters which include public disclosure, budgetary process, post-budget fiscal management and efforts to make the budget more transparent and citizen-friendly. The findings of the survey are:
- The top slot in the survey was occupied by Assam.
- Assam was followed by Andhra Pradesh and Odisha in the ranking of best practices followed by states in the Budget formulation.
- Meghalaya, Manipur and Punjab figured in the bottom list.
- The report notes that Assam is the only state out of the 29 states and 2 UTs, which has published a Citizens Budget in the public domain.
- Also, the government of Assam is the only government that has conducted budget awareness campaigns across 17 districts.
Transparency International is an international non-governmental organization based in Berlin, Germany. Founded in 1993 by a group of individuals who decided to take up a stance against corruption, today from villages in rural India to the corridors of power in Brussels, Transparency International gives voice to the victims and witnesses of corruption. The Corruption Perception Index of Transparency International is the most widely used indicator of corruption worldwide.
Categories: Economy & Banking Current Affairs