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Centre for Budget Studies

Ever Since the ascendancy of Keynesian Economics, public spending assumed an important role in the functions of governments all over the world. Since 1764, budget presentation is believed to have become a regular practice in British Parliament. Later, other countries also started preparing and presenting annual budgets in their parliaments. Eventually the structure and dimensions of budgets changed significantly. Apart from being annual statements of accounts, budgets are important policy documents with clearly indicated objectives, strategies and policy directives to mobilise economic resources and judiciously allocate expenditures to achieve economic change with inclusiveness, maximum social welfare and better distribution of wealth and incomes. Thus, the budgets significantly impact the governance structure of a country. Though the budgetary impact at the micro, meso and macro levels have been studied by scholars, institutions specialising in such studies are not too many.

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