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Budgets
A budget is a calculation plan, usually but not always financial, for a defined period, often one year or a month. A budget may include anticipated sales volumes and revenues, resource quantities including time, costs and expenses, environmental impacts such as greenhouse gas emissions, other impacts, assets, liabilities and cash flows. Companies, governments, families, and other organizations use budgets to express strategic plans of activities in measurable terms. Preparing a budget allows companies, authorities, private entities or families to establish priorities and evaluate the achievement of their objectives. To achieve these goals it may be necessary to incur a deficit (expenses exceed income) or, on the contrary, it may be possible to save, in which case the budget will present a surplus (income exceed expenses). In the field of commerce, a budget is also a financial document or report that details the cost that a service will have if performed. Whoever makes the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balanced Budget
A balanced budget (particularly that of a government) is a budget in which revenues are equal to expenditures. Thus, neither a budget deficit nor a budget surplus exists (the accounts "balance"). More generally, it is a budget that has no budget deficit, but could possibly have a budget surplus. A ''cyclically'' balanced budget is a budget that is not necessarily balanced year-to-year but is balanced over the economic cycle, running a surplus in boom years and running a deficit in lean years, with these offsetting over time. Balanced budgets and the associated topic of budget deficits are a contentious point within academic economics and within politics. Some economists argue that moving from a budget deficit to a balanced budget decreases interest rates, increases investment, shrinks trade deficits and helps the economy grow faster in the longer term. Other economists, especially (but not limited to) those associated with Modern Monetary Theory (MMT), downplay the need for ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zero-based Budgeting
Zero-based budgeting (ZBB) is a budgeting method that requires all expenses to be justified and approved in each new budget period. It was developed by Peter Pyhrr in the 1970s. This budgeting method analyzes an organization's needs and costs by starting from a "zero base" (meaning no funding allocation) at the beginning of every period. The intended outcome is to assess the efficient use of resources by determining if services can be provided at a lower cost. However, the saving comes at the expense of a complete restructuring every budget cycle. Although used at least partially in both government and the private sector, there is some doubt whether ZBB has ever been utilized to its fullest extent in any organization. Description The zero-based budgeting method requires all expenses to be justified and approved in each new budget period, typically each year. The method analyzes an organization's needs and costs by starting from no funding allocation (a ''zero base'') at the begi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nirmala Sitharaman
Nirmala Sitharaman (born 18 August 1959) is an Indian economist, politician and a senior leader of the Bharatiya Janata Party (BJP) serving as the Minister of Finance and Minister of Corporate Affairs of the Government of India since 2019. She is a member of the Rajya Sabha, the upper house of the Indian Parliament, representing Karnataka since 2016 and previously represented Andhra Pradesh from 2014 to 2016. Sitharaman previously served as the 28th Defence Minister from 2017 to 2019, thereby becoming India's second female defence minister and the second female finance minister after Indira Gandhi, and the first full-time female minister to hold each of those portfolios. Sitaraman presented the union budget 8 times, making her second only to Morarji Desai to present the most number of budgets. She served as junior minister in the Modi ministry between 2014 and 2017, holding successive positions, first for her dual appointment as the Minister of State in the Ministry of Fin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Department Of Budget And Management
The Department of Budget and Management (DBM; ) is an Executive departments of the Philippines, executive body under the Office of the President of the Philippines. It is responsible for the sound and efficient use of government resources for national development and also as an instrument for the meeting of national socio-economic and political development goals. The department has four undersecretaries and four assistant secretaries. History At the beginning of the 20th century, the Second Philippine Commission, acting as a legislative body, enacted appropriations measures for the annual expenditures of the government. This was in accordance with the Philippine Bill of 1902, which decreed that disbursements from the national treasury were to be authorized only in pursuance of appropriations made by law. With the passage of the Jones Law in 1916, the Philippine Legislature was set up with two chambers: the Philippine Senate and the House of Representatives of the Philippines, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Planning
Strategic planning is the activity undertaken by an organization through which it seeks to define its future direction and makes decisions such as resource allocation aimed at achieving its intended goals. "Strategy" has many definitions, but it generally involves setting major goals, determining actions to achieve these goals, setting a timeline, and mobilizing resources to execute the actions. A strategy describes how the ends (goals) will be achieved by the means (resources) in a given span of time. Often, Strategic planning is long term and organizational action steps are established from two to five years in the future. Strategy can be planned ("intended") or can be observed as a pattern of activity ("emergent") as the organization adapts to its environment or competes in the market. The senior leadership of an organization is generally tasked with determining strategy. It is executed by strategic planners or strategists, who involve many parties and research sources in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
President Of India
The president of India (ISO 15919, ISO: ) is the head of state of the Republic of India. The president is the nominal head of the executive, the first citizen of the country, and the commander-in-chief, supreme commander of the Indian Armed Forces. Droupadi Murmu is the 15th and current president, having taken office on 25 July 2022. The office of president was created when Constitution of India, India's constitution came into force and it became a republic on Republic Day (India), 26 January 1950. The president is indirect election, indirectly elected by an electoral College (India), electoral college comprising both houses of the Parliament of India and the state Legislative Assembly (India), legislative assemblies of each of States and union territories of India, India's states and territories, who themselves are all directly elected by the citizens. s:Constitution of India/Part V#Article 53 %7BExecutive power of the Union%7D, Article 53 of the Constitution of India stat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of Management And Budget
The Office of Management and Budget (OMB) is the largest office within the Executive Office of the President of the United States (EOP). The office's most prominent function is to produce the president's budget, while it also examines agency programs, policies, and procedures to see whether they comply with the president's policies and coordinates inter-agency policy initiatives. Russell Vought is the current director of the OMB since February 2025. History The Bureau of the Budget, OMB's predecessor, was established in 1921 as a part of the United States Department of the Treasury, Department of the Treasury by the Budget and Accounting Act of 1921, which President Warren G. Harding signed into law. The Bureau of the Budget was moved to the Executive Office of the President of the United States, Executive Office of the President in 1939 and was run by Harold D. Smith during the government's rapid expansion of spending during World War II. James L. Sundquist, a staffer at the B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deficit Spending
Within the budgetary process, deficit spending is the amount by which spending exceeds revenue over a particular period of time, also called simply deficit, or budget deficit, the opposite of budget surplus. The term may be applied to the budget of a government, private company, or individual. A central point of controversy in economics, government deficit spending was first identified as a necessary economic tool by John Maynard Keynes in the wake of the Great Depression. Controversy Government deficit spending is a central point of controversy in economics, with prominent economists holding differing views. The mainstream economics position is that deficit spending is desirable and necessary as part of countercyclical fiscal policy, but that there should not be a structural deficit (i.e., permanent deficit): The government should run deficits during recessions to compensate for the shortfall in aggregate demand, but should run surpluses in boom times so that there is no ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income
Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. Income is difficult to define conceptually and the definition may be different across fields. For example, a person's income in an economic sense may be different from their income as defined by law. An extremely important definition of income is Haig–Simons income, which defines income as ''Consumption + Change in net worth'' and is widely used in economics. For households and individuals in the United States, income is defined by tax law as a sum that includes any wage, salary, profit, interest payment, rent, or other form of earnings received in a calendar year.Case, K. & Fair, R. (2007). ''Principles of Economics''. Upper Saddle River, NJ: Pearson Education. p. 54. Discretionary income is often defined as gross income minus taxes and other deductions (such as mandatory pension contributions), and is widely used as a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Veto
A veto is a legal power to unilaterally stop an official action. In the most typical case, a president (government title), president or monarch vetoes a bill (law), bill to stop it from becoming statutory law, law. In many countries, veto powers are established in the country's constitution. Veto powers are also found at other levels of government, such as in state, provincial or local government, and in international bodies. Some vetoes can be overcome, often by a supermajority vote: Veto power in the United States, in the United States, a two-thirds vote of the United States House of Representatives, House and United States Senate, Senate can override a presidential veto.Article One of the United States Constitution#Clause 2: From bills to law, Article I, Section 7, Clause 2 of the United States Constitution Some vetoes, however, are absolute and cannot be overridden. For example, United Nations Security Council veto power, in the United Nations Security Council, the five per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philippine Senate
The Senate of the Philippines () is the upper house of Congress, the bicameral legislature of the Philippines, with the House of Representatives as the lower house. The Senate is composed of 24 senators who are elected at-large (the country forms one district in senatorial elections) under a plurality-at-large voting system. Senators serve six-year terms with a maximum of two consecutive terms, with half of the senators elected in staggered elections every three years. When the Senate was restored by the 1987 Constitution, the 24 senators who were elected in 1987 served until 1992. In 1992, the 12 candidates for the Senate obtaining the highest number of votes served until 1998, while the next 12 served until 1995. This is in accordance with the transitory provisions of the Constitution. Thereafter, each senator elected serves the full six years. From 1945 to 1972, the Senate was a continuing body, with only eight seats up every two years. Aside from having its concurren ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
P C Mahalanobis
Prasanta Chandra Mahalanobis Order of the British Empire, OBE, Indian National Science Academy, FNA, Indian Academy of Sciences, FASc, Fellow of the Royal Society, FRS (29 June 1893 – 28 June 1972) was an Indian scientist and statistician. He is best remembered for the Mahalanobis distance, a statistical measure, and for being one of the members of the Planning Commission (India), first Planning Commission of free India. He made pioneering studies in anthropometry in India. He founded the Indian Statistical Institute, and contributed to the design of large-scale sample surveys. For his contributions, Mahalanobis has been considered the Father of statistics in India. Since 2007, every year June 29 is celebrated as National Statistics Day in India to commemorate the birth anniversary of P.C. Mahalanobis and his contributions to statistical science and planning. Early life Mahalanobis was born on 29 June 1893, in Calcutta, Bengal Presidency (now West Bengal). Mahalanobis belonged ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
