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About Us

The Centre for Budget Studies (CBS), established by the Cochin University of Science and Technology in 2012, is a pioneering institution dedicated to the in-depth analysis of budgets, fiscal management, and their impact on governance structures in India. Since the emergence of Keynesian Economics, public spending has assumed a crucial role in government functions worldwide. The practice of budget presentations dates back to 1764 when it became a regular feature in the British Parliament. Subsequently, other countries adopted the practice of preparing and presenting annual budgets in their respective parliaments. Over time, budgets have evolved from being mere statements of accounts to becoming significant policy documents. They now contain clear objectives, strategies, and policy directives aimed at mobilising economic resources, ensuring prudent expenditure allocation, promoting economic change, social welfare, and equitable distribution of wealth and income. As such, budgets have a profound impact on a country's governance structure. While scholars have extensively studied the budgetary impact at micro, meso, and macro levels, there are relatively few institutions specialising in this field. In India, only a handful of institutions, approximately four or five, focus on various aspects of budgetary studies. While the budgetary processes of central and state governments are reasonably well-established, the budget-making procedures and practices of Panchayati Raj institutions (local self-governments) lack proper streamlining. It is crucial to conduct rigorous analyses of the implications of union and state government budgets on the economy as a whole, and particularly on the budgeting system of local bodies. Furthermore, there is a pressing need to enhance budgetary practices in local bodies, making them effective instruments of financial management at the grassroots level. Recognizing these gaps, CBS was founded with a vision to address these challenges.

Our main objectives are to conduct comprehensive analyses of budget documents from the Indian Union, constituent states, and local self-governments. Additionally, we aim to provide education on budgetary theories, processes of budget making, and policies. We also offer training programs for personnel engaged in budget making in the state of Kerala and local bodies, equipping them with the necessary skills and knowledge. Furthermore, we strive to promote budget awareness among the wider public. CBS received essential financial support from the Government of Kerala, which allocated funds in the state budget to establish the Centre. As a relatively young institution, CBS is taking its initial steps toward achieving its desired goals. We are committed to becoming a leading authority in budget studies, fostering improved fiscal management practices, and contributing to the overall development of budgetary frameworks in India.

Vision, Value and Mission

The vision of the Centre for Budget Studies (CBS) is to become a Centre of Excellence in teaching, research and community outreach in its specialised area in ten years from now. In order to realise its goal, the Centre will make all efforts to excel in teaching, research and its social commitments. The values of the centre will be institutional integrity, openness to knowledge and change, quality and continuous improvement in its teaching, research and extension activities, provision of a safe atmosphere that supports freedom of enquiry and above all commitment to the society. The Centre is in its early stage of development facing a number of challenges. Its steady growth towards the realisation of its vision needs to be addressed with careful planning and thoughtful implementation.

Objectives and Thrust Areas

The Centre for Budget Studies (CBS) at the Cochin University of Science and Technology is committed to advancing both the theory and practice of budgeting at the national, sub-national, and local levels. Our primary objective is to contribute to the understanding and improvement of budgetary processes and practices.

To achieve our goals, CBS focuses on the following thrust areas:

  • Local government budgeting with focus on Kerala.
  • Exploring fiscal relations between states and sub-states, with a focus on Kerala.
  • Establishing a comprehensive budget archive for historical analysis and research of Travancore, Cochin, Travancore-Cochin and state budgets.
  • Studying the political economy of budgets in Kerala from the days of princely state, including local body practices.
  • Publishing insightful books, papers, and articles to contribute to budgetary knowledge.
  • Analyzing public debt implications and providing recommendations for effective management.
  • Establishing a State Budget Observatory for transparent information and informed discussions concerning the state and local finance of Kerala.
  • Hosting seminars, conferences, and lectures to foster knowledge exchange.
  • Developing an expert cadre in budgeting and public budget-making through specialized training.

Teaching

The Centre offers its flagship program, the MSc in Econometrics and Financial Technology. This comprehensive course equips students with the knowledge and skills to excel in the dynamic fields of econometrics and financial technology. Our experienced team of faculty members and industry experts are dedicated to nurturing and building a community of aspiring professionals in these cutting-edge domains.
In addition to our esteemed MSc program, we have ambitious plans for the future. We envision launching a doctoral program that will further contribute to advancing research and knowledge in the field of econometrics and financial technology. Furthermore, recognizing the importance of continuous learning, we intend to offer short-term training programs focused on budgetary policy and practices. These programs will cater specifically to professionals working in central, state, and local bodies engaged in budget preparation. In a few years, the Centre proposes to start its own Masters Programme in Public Economics and Policy.

Research

Research studies will be undertaken to make scientific analyses of budgets of governments in India at various levels and to study the impact of budgetary policies on economy and society. The Centre will encourage and promote multidisciplinary research to come to grips with the different aspects of budgets that cannot be captured by the analytical apparatus of any single discipline. Research Seminars, conferences, discussions and workshops are a regular activity of the Centre.

Community Outreach

Apart from its academic functions, the Centre also focuses on programmes to disseminate its research output to the wider public. Public lectures, workshops and budget awareness programmes will be periodically organised to cater to this need. Every year, the Centre organises meetings on state and central budgets with expert speakers for the benefit of the teachers, students, staff and the public at large.

Academic Networking

The successful implementation of the strategy of the Centre needs networking with local colleges, universities and teaching, training and research institutions in the area of its mandate at the local, regional, national and international levels. This would involve collaboration in teaching research and training and other academic activities. The immediate task is forging academic linkages with Gulati Institute of Finance and Taxation, Trivandrum and Kerala Institute of Local Administration (KILA), Trichur within Kerala. Research collaboration is envisaged with the Centre for Socio Economic and Environmental Studies and Institute of Small Enterprises and Development, both located in Cochin and engaged in studies encompassing the thrust areas of the Centre. Academic collaboration with other national and international institutions also will be established in due course.

Centre Financing

At present the full financial support is provided by the government of Kerala. Once the activities of the Centre increase, more funds will have to be sought through research and other projects supported by national and international organizations, consultancy and training programmes. It is expected that by the end of 2021, at least 10% of the finance required will be raised by the Centre on its own through projects, research and consultancy. After 5 years, 25% of the required operational funds will be generated by the Centre.
After a period of 8 years, it is expected that the Centre will generate at least 50% of its operating expenditure through its own efforts. By that time the necessary physical infrastructure and human capital are expected to be in place.