Finance Ministry launches manual on composite budgeting

Ministry of Finance

I assure you that government is taking the necessary steps to ensure that resources are disbursed in a more predictable and timely manner, he said. According to Mr Hagan, the ongoing fiscal decentralisation reforms which entailed entrusting the assemblies with the authority and capacity to generate, allocate and utilise financial resources to promote socio- economic development of the districts would not make any meaning unless the lapses in financial management at the MMDA level were addressed. The forum, he said, was apt as it provided the opportunity for stakeholders to discuss their respective roles in improving financial management and service delivery on a more sustainable basis. The deputy minister also charged the budget officers at the MMDA level to play their roles effectively in ensuring the elimination of weaknesses that undermine budgeting performance and produces poor budgetary outcomes.

7 Courses Finance Students Should Take

It also explains the movements of a company’s stock. Accounting – Financial and managerial accounting courses teach finance students how to understand, record and report financial transactions, monitor the company’s budgets and performance, and examine the costs of the organization’s products and services. Economics – Economics looks at how scarce resources are allocated to achieve needs and wants. A course in macroeconomics will teach finance students to understand the impact of financial market activities on the overall economy.

India’s Finance Minister Vows Not To Overspend

Meanwhile, the FinMin did the usual cheerleading, saying he was confident the government could finance the current account deficit now nearly 5% this year without pulling money out of Indias foreign cash reserves. India has $279 billion in foreign reserves as of July 19, according to the Reserve Bank of India. Emerging market countries often use reserves to fend off speculative attacks against its currency, and to provide a cushion against external debt service. The FinMin said that Indias target for this years fiscal deficit was still 4.8%. It is a red line and it will not be breached, he said on a day that economic data out of the country showed the government had run up a fiscal deficit of nearly half the budgeted amount in the first quarter.

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