Short Notes on Accounts – I

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    Anonymous
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    Performance Budget
    A system of performance Budgeting has been introduced both Central and in the States for the following purpose:
    (a) Meaningful reflection of the national development efforts.
    (b) Evaluating the progress of projects against target.
    (c) To serve as a tool for securing the efficient management of operations entrusted to the Administration.
    The individual items which make up the budget are shown not only in financial terms but as far as possible in physical terms as well, thereby establishing a proper relationship between inputs and outputs and enabling a proper assessment of the performance in relation to costs.

    #74525
    Anonymous
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    Investment
    The Govt. invests money regularly to the constituted sinking fund or other fund administrated by the Govt. authorised by statutory provision by which fund is governed. If any investment is considered un-authorised, irregular or un-sound the same are brought to the notice of the Govt. by the audit.

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