| Which of the following is true regarding budget preparation in India? (1) Budget preparation in India is a calculative process between the Ministry of Finance and the spending Ministries. (2) Top down approach with the Ministry of Finance issuing guidelines or communicating instructions to spending Ministries. (3) A bottom-up approach, wherein the spending Ministries plan and present requests for budget allocation. |
A) Only option B & C is correct.
B) Only option A, B & C are correct.
C) Only option A & B are correct.
D) Only option A & C are correct.
E) None of these
Correct Answer: B
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