Assessing the Changes in Structure and Processes - Union Budget 2017
The string of Government decisions taken over the last two years were indicative of some major changes in budgetary processes coming off as the 12th Five Year Plan drew to a close. Correspondingly, the fourth budget of the present Government, presented on 1st February, has made way for putting into effect some of such shifts. The Union Budget for 2017-18 has shown continuity in terms of the overall policy trajectory being followed which is of fiscal consolidation. On the budget processes front, however, it came with a number of changes. It has merged the Rail Budget with the General Budget, discontinued the Plan and Non-Plan classification in Union Government’s Expenditure Budget, and advanced the date of the Budget presentation by a month.