How does Rajasthan prepare its budget (technically) ??

The Rajasthan state budget is a comprehensive financial statement outlining the government’s revenue and expenditure for the fiscal year. It reflects the state’s priorities and economic policies, focusing on areas like infrastructure, education, health, and rural development. Preparing the budget is a meticulous process involving multiple stages. Here’s a detailed step-by-step look at how the Rajasthan state assembly prepares its budget:

Step 1: Budget Formulation by the Finance Department

1. Issuance of Budget Circular:
   • The Finance Department issues a circular to all departments asking for budget estimates for the upcoming fiscal year.
   • Departments submit their requirements based on their projected revenue and expenditures.
2. Revenue and Expenditure Estimates:
   • Revenue sources like state taxes, GST, and central grants are assessed.
   • Expenditure forecasts, including salaries, subsidies, and development projects, are compiled.
3. Consultations and Revisions:
   • Meetings are held with key stakeholders, including departmental heads and ministers, to prioritize expenditures.
   • Allocations are reviewed to ensure they align with the state’s policy goals.

Step 2: Presentation in the Legislative Assembly

1. Budget Presentation:
   • The Chief Minister, who also holds the Finance portfolio in Rajasthan, presents the budget in the Legislative Assembly.
   • This includes the Annual Financial Statement (income and expenditure), Demand for Grants, and supplementary proposals.
2. Budget Speech:
   • The Chief Minister delivers a detailed speech highlighting the budget’s vision, allocations, and expected outcomes. For example, in the 2023-24 budget, Rajasthan announced a focus on healthcare, allocating ₹11,500 crore to the Right to Health scheme.

Step 3: Discussion and Approval

1. General Discussion:
   • Members of the assembly debate the budget, highlighting sectoral priorities, shortcomings, and expectations.
2. Departmental Examination:
   • The budget is referred to standing committees for detailed scrutiny of department-wise allocations.
3. Demand for Grants:
   • Grants are discussed, voted on, and passed in the assembly.

Step 4: Final Approval and Implementation

1. Appropriation Bill:
   • After the demands are approved, the Appropriation Bill is introduced to authorize the withdrawal of funds.
2. Finance Bill:
   • Taxation and revenue measures are implemented through the Finance Bill.
3. Execution and Monitoring:
   • The budget is implemented by respective departments, with periodic monitoring to ensure efficiency.

Key Data (2023-24 Budget Highlights)

• Total Budget Size: ₹3.60 lakh crore.
• Major Allocations: ₹20,200 crore for education, ₹15,800 crore for agriculture, and ₹18,200 crore for infrastructure.
• Focus Areas: Healthcare, skill development, and rural welfare.