Union Budget 2019: What is Gross Budgetary Support and how it ensures govt meets planned outlays during financial year
The central plan includes the GBS and the spending of the public enterprises that do not figure in the budget.
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The government’s support for the central plan is called the Gross Budgetary Support, or the GBS
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Budgetary Support is earmarked for meeting the planned outlays of the Central government during the financial year
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The central plan includes the GBS and the spending of the public enterprises that do not figure in the budget
The government’s support for the central plan is called the Gross Budgetary Support, or the GBS. Budgetary Support is earmarked for meeting the planned outlays of the Central government during the financial year.
The central plan includes the GBS and the spending of the public enterprises that do not figure in the budget.
The GBS includes the tax receipts and other sources of revenue raised by the Government.
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In FY19, Indian Railways spent the entire earmarked gross budgetary support (GBS) of Rs 53,060 crore.
It is not unusual that the finance ministry cuts the actual GBS from the Budget Estimate (BE) level; for instance in FY18, the GBS was cut by around Rs 10,000 crore from BE.
The Interim Budget announced by Finance Minister Piyush Goyal on 1 February this year saw an allocation of Rs 64,587 crore and the highest-ever capital expenditure of Rs 1.58 lakh crore for Indian Railways.
Last year, the capital expenditure for the Railways was Rs 1.48 lakh crore while the budget allocation was Rs 55,088 crore.
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