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Financial Grants
Consider the following statements with reference to Financial Grants:
- Supplementary grant is granted when the amount authorised by the Parliament through the appropriation act for a particular service for the current financial year is found to be insufficient for that year.
- Additional grant is granted when a need has arisen during the current financial year for additional expenditure upon some new service not contemplated in the budget for that year.
- Token grant is granted when funds to meet the proposed expenditure on a new service can be made available by re-appropriation.
Which of the statement(s) given above is/are correct? Choose the correct answer from the codes given below:
A |
1 and 2
|
|
B |
2 and 3
|
|
C |
1 and 3
|
|
D |
1, 2 and 3
|
Your Ans is
Right ans is D
Your Answer Is Correct
Your Answer Is Wrong
Explanation :
Supplementary Grant
- It is granted when the amount authorised by the Parliament through the appropriation act for a particular service for the current financial year is found to be insufficient for that year.
- The Comptroller and Auditor General of India brings such excesses to the notice of the Parliament.
- The Public Accounts Committee examines these excesses and gives recommendations to the Parliament.
Additional Grant
- It is granted when a need has arisen during the current financial year for additional expenditure upon some new service not contemplated in the budget for that year.
Token Grant
- It is granted when funds to meet the proposed expenditure on a new service can be made available by re-appropriation.
- A demand for the grant of a token sum (of Re 1) is submitted to the vote of the Lok Sabha and if assented, funds are made available.
- Re-appropriation involves transfer of funds from one head to another. It does not involve any additional expenditure.
Constitutional Provision
- Article 115: Supplementary, additional or excess grants.
- Article 116: Votes on account, votes of credit and exceptional grants.
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