How India balances its books

It's that time of the year when conversation veers round to the topic of the forthcoming Budget.

The Budget is a huge fiscal exercise and it is interesting to find out how India goes about the budget process and how it balances its books.

Flow along this chart to find out how India goes about balancing its books:

STAGE 1: Estimates. Part A - Expenditure.
[To the word picture]

STAGE 1: Estimates. Part B - Revenue.

 
[To the word picture]

STAGE 2: First estimates of deficit.
[To the word picture]

STAGE 3: Narrowing of the deficit.
[To the word picture]

STAGE 4: The Budget
[To the word picture]

ALSO SEE

The Budget Process: The Word Picture