The Economy of Russia: Implications for the Civil Services Exam 2026 Russia's economy is a complex tapestry shaped by its vast natural resources, historical legacies, and contemporary geopolitical dynamics. As candidates prepare for the Civil Services Exam 2026, understanding the intricacies of Russia's economic structure, its challenges, and its global impact is crucial. This article delves into key aspects of the Russian economy and how they relate to broader international contexts. Overview of the Russian Economy Russia is the world's largest country by land area and possesses an abundance of natural resources, notably oil, natural gas, and minerals. The economy is characterized by a mix of state control and market mechanisms, with the government playing a significant role in key sectors. #### Key Sectors 1. **Energy Sector**: - Russia is one of the leading producers of oil and natural gas, with state-owned companies like Gazprom and Rosneft dominating the market. ...
What is Vote on Account?
The discussion on the Budget begins a few days after its presentation. In a democratic set-up, Government is anxious to give Parliament full opportunity to discuss the budgetary provisions and the various proposals for taxation. Since Parliament is not able to vote the entire budget before the commencement of the new financial year, the necessity to keep enough finance at the disposal of Government in order to allow it to run the administration of the country remains. A special provision is, therefore, made for "Vote on Account" by which Government obtains the Vote of Parliament for a sum sufficient to incur expenditure on various items for a part of the year.
What is duration for the Vote-on-Account?
Normally, the Vote on Account is taken for two months only. But during election year or when it is anticipated that the main Demands and Appropriation Bill will take longer time than two months, the Vote on Account may be for a period exceeding two months.
Is the Vote-on-Account, and interim budget is same?
No. "Vote on Account" is meant for a sum sufficient to incur expenditure on various items for a part of the year. While interim budget consists of complete set of accounts including the receipts.
Reference:
[1] http://www.parliamentofindia.nic.in
The discussion on the Budget begins a few days after its presentation. In a democratic set-up, Government is anxious to give Parliament full opportunity to discuss the budgetary provisions and the various proposals for taxation. Since Parliament is not able to vote the entire budget before the commencement of the new financial year, the necessity to keep enough finance at the disposal of Government in order to allow it to run the administration of the country remains. A special provision is, therefore, made for "Vote on Account" by which Government obtains the Vote of Parliament for a sum sufficient to incur expenditure on various items for a part of the year.
What is duration for the Vote-on-Account?
Normally, the Vote on Account is taken for two months only. But during election year or when it is anticipated that the main Demands and Appropriation Bill will take longer time than two months, the Vote on Account may be for a period exceeding two months.
Is the Vote-on-Account, and interim budget is same?
No. "Vote on Account" is meant for a sum sufficient to incur expenditure on various items for a part of the year. While interim budget consists of complete set of accounts including the receipts.
Reference:
[1] http://www.parliamentofindia.nic.in
Comments
Post a Comment
We welcome constructive comments for the articles on the website. Readers can add their own views, they can ask any clarification and suggestions are always welcome.