What are demands for grants?

Summary of the Article: Demands for Grants in India

Demands for Grants are an essential part of the budget process in India. Each ministry or department presents one demand for a grant, except for some large ministries where multiple demands may be presented. Article 113 of the Indian Constitution mandates that the estimates of expenditure be submitted in the form of Demands for Grants, which must be voted on by the Lok Sabha. The Consolidated Fund of India, established by Article 266(1) of the Constitution, is the total of the government’s receipts and outlays, excluding unusual items. There are three types of demands for money: transaction demand, precautionary demand, and asset motive/speculative demand. Demand 16 in the budget pertains to Capital Appropriation, while Demands 1-15 pertain to Revenue Demand. Program/project grants are the most common type of grant, and the three main types of grants in aid offered by the government are discretionary grants, student loans or grants, and formula grants determined by Congress. Article 108 of the Indian Constitution deals with the joint sitting of the Parliament, presided over by the Speaker of the Lok Sabha or the Deputy Chairman of the Rajya Sabha. Grants given to the states under the recommendation of the Finance Commission include Discretionary Grants and Statutory Grants. The Consolidated Fund of India comprises the government’s revenues and expenses, excluding exceptional items. Lastly, the Consolidated Fund of India is used to pay for various government expenses.

Questions and Answers:

  1. How many demands are included in the budget?
    Normally, one Demand is presented in respect of each Ministry/Department. In respect of some of the large Ministries/Departments, however, more than one Demand is presented.
  2. How many demands for grants are there in India?
    Generally, one demand for a grant is presented in respect of each ministry or department.
  3. What is Article 113 demands for grants in India?
    Article 113 of the Constitution mandates that the estimates of expenditure from the Consolidated Fund of India included in the Annual Financial Statement and required to be voted by the Lok Sabha be submitted in the form of Demands for Grants.
  4. What is the Consolidated Fund of India?
    The Consolidated Fund of India refers to the total of the Government of India’s receipts from income tax, Customs, central excise, and other sources, as well as its outlays, minus unusual items. Article 266(1) of the Indian Constitution provided for its establishment.
  5. What are the three demands for money?
    The types of demands for money are transaction demand, which is money needed to buy goods related to income, precautionary demand, which is money needed for financial emergencies, and asset motive/speculative demand, which is when people wish to hold money rather than buy assets/bonds/risky investments.
  6. What is demand 16?
    Demands 1 to 15 pertains to Revenue Demand, and demand 16 pertains to Capital Appropriation. After the Demands for Grants are voted by Parliament, the Appropriation bill is introduced to provide for appropriation of money required to meet the expenditures.
  7. What are the most common grants?
    Program/project grants are the most common type of grant. These grants specify that funding may only be used to support the program or project referenced in the proposal.
  8. What are the three main types of grants in aid?
    The three main types of grants offered by the government are discretionary grants awarded through a competitive process, student loans or grants to help students attend college, and formula grants that use formulas determined by Congress and have no application process.
  9. What does Article 108 of the Indian Constitution deal with?
    Article 108 deals with the joint sitting of the Parliament, called by the President of India and presided over by the Speaker of the Lok Sabha or, in their absence, by the Deputy Speaker of the Lok Sabha, or in their absence, the Deputy Chairman of the Rajya Sabha.
  10. Which grants are given to the states under the recommendation of the Finance Commission?
    The provision of Discretionary Grants to states is made under Article 275 of the Constitution. The bases of Statutory Grants are recommendations of the Finance Commission.
  11. What is the meaning of Consolidated Fund?
    The Consolidated Fund of India is the most important government account that includes revenues received by the government and expenses made by it, excluding exceptional items. It was constituted under Article 266(1) of the Constitution of India.
  12. Who gets paid from the Consolidated Fund of India?
    Various government expenses are paid from the Consolidated Fund of India.

What are demands for grants?

How many demands are included in budget

Normally one Demand is presented in respect of each Ministry/ Department. In respect of some of the large Ministries/ Departments, however, more than one Demand is presented.

How many demands for grants in India

one demand for

Generally, one demand for a grant is presented in respect of each ministry or department.

What is Article 113 demands for grants in India

Article 113 of the Constitution mandates that the estimates of expenditure from the Consolidated Fund of India included in the Annual Financial Statement and required to be voted by the Lok Sabha be submitted in the form of Demands for Grants.

What is the Consolidated Fund of India

The Consolidated Fund of India refers to the total of the Government of India's receipts from income tax, Customs, central excise, and other sources, as well as its outlays, minus unusual items. Article 266(1) of the Indian Constitution provided for its establishment.

What are the three demands for money

Types of demand for moneyTransaction demand – money needed to buy goods – this is related to income.Precautionary demand – money needed for financial emergencies.Asset motive/speculative demand – when people wish to hold money rather than buy assets/bonds/risky investment.

What is demand 16

Demands 1 to 15 pertains to Revenue Demand and 16 pertains to Capital. Appropriation Bill. After the Demands for Grants are voted by Parliament, Appropriation bill is introduced to provide for appropriation of money required to meet the expenditures.

What are the most common grants

Program/project grants

This is the most common type of grant. Program/project grants specify that funding may only be used to support the program or project referenced in your proposal.

What are the three main types of grants in aid

ED offers three kinds of grants:Discretionary grants: awarded using a competitive process.Student loans or grants: to help students attend college.Formula grants: uses formulas determined by Congress and has no application process.

What does Article 108 of Indian Constitution deals with

The joint sitting of the Parliament is called by the President of India (Article 108) and is presided over by the Speaker of the Lok Sabha or, in their absence, by the Deputy Speaker of the Lok Sabha, or in their absence, the Deputy Chairman of the Rajya Sabha.

Which of the following grants are given to the states under the recommendation of the Finance Commission

The provision of Discretionary Grants to states is made under Article 275 of constitution. 3. The bases of Statutory Grants are recommendations of finance commission.

What is the meaning of Consolidated Fund

Definition: Consolidated Fund of India is the most important of all government accounts. Revenues received by the government and expenses made by it, excluding the exceptional items, are part of the Consolidated Fund. Description: This fund was constituted under Article 266 (1) of the Constitution of India.

Who gets paid from Consolidated Fund of India

The correct answer is Comptroller and Auditor General. Comptroller and Auditor General draws Salary, allowances and pension from Consolidated Fund of India.

What is an example of demand for money

When you carry money in your purse or wallet to buy a movie ticket or maintain a checking account balance so you can purchase groceries later in the month, you are holding the money as part of your transactions demand for money.

What are demand considered as money

Answer: Demand deposits are considered as money because, They can be withdrawn anytime. They, at times, act as supplements for cash and cheque payments. These are a form of money in the bank.

What are demand examples

Demand is a consumer's desire and willingness to buy a product at a given price. For example, if the price increases, the customer might hesitate, and the willingness to buy decreases.

What are the 8 types of demand

There are 8 states of demand: negative demand, no demand, latent demand, falling demand, irregular demand, full demand, overfull demand and unwholesome demand.

What are 3 cons about grants

In reality, grants can often become a source of frustration and stress for a non-profit.Grants Cannot Help You Start Off.Grants Come with a Lot of Strings Attached.Grants Take a Long Time to be Approved.Grants Have Complex Reporting Requirements.Grants are Short-Termed.

What are the four main types of grants

A Beginners Guide to the 4 Types of Federal Grant FundingCompetitive Grants – Based on the Merit of Your Proposed Project.Formula Grants – Awardees are Predetermined.Continuation Grants – Renewal of an Existing Grant.Pass-Through Grants – Issued by a Federal Agency.

What is the most common grant

Program/project grants

Program/project grants

This is the most common type of grant. Program/project grants specify that funding may only be used to support the program or project referenced in your proposal.

What is Article 104

Article 104: Penalty for sitting and voting before making oath or affirmation under article 99 or when not qualified or when disqualified – Constitution of India.

What is Article 10 of the Constitution

No State shall, without the Consent of Congress, lay any Duty of Tonnage, keep Troops, or Ships of War in time of Peace, enter into any Agreement or Compact with another State, or with a foreign Power, or engage in War, unless actually invaded, or in such imminent Danger as will not admit of delay.

What are the two main sources of funding for grants

The two primary sources of grant money are public and private funds. Public funds are obtained from governmental units, such as federal, state, and local agencies.

What are the 3 types of grants that can be given to states

The three general types of federal grants to state and local governments are categorical grants, block grants, and general revenue sharing (see Table 1).

What are the 3 accounts of the consolidated funds

Section 7 of the Financial Procedure Act, 1957 further explains that there are three separate accounts maintained by the financial authority in respect of the Consolidated Fund. These are the Consolidated Revenue, Trust and Loan Account.

How does financial consolidation work

Financial consolidation is an accounting process where companies combine the data from all of their subsidiaries and other entities into a single set of financial statements for the parent company. This process gives executives and stakeholders of the parent company a view into company-wide financial performance.