Finance Ministry starts Budget 2013-14 exercise

Finance Ministry has started the process to prepare budget for the next financial year by issuing guidelines to all central government ministries and departments. The Department of Economic Affairs has also issued guidelines for framing the revised budget estimates for 2012-13.

As per the Budget circular 2013-14, estimates of expenditures are to be furnished to the Budget division in the Finance Ministry in stages by the various Ministries. Discussions regarding the estimates are scheduled to commence in October-November.

"These will focus on the net Budget of each ministry/ department, i.e. expenditure less revenue receipts and capital receipts...," the circular said. The Budget is generally presented on the last working day of February by the Union Finance Minister.