18.24           ndian   onom
     ZBB, but many of the profit-fetching PSUs have                  balanced budget. Such budget making is popularly
     been able to use it successfully and optimise their             known as balanced budgeting.
                                                                     genDer buDgeting
        charged exPendIture                                          A general budget by the government which
     It is the public expenditure which is beyond the                allocates funds and reponsibilities on the basis
     voting power of the Parliament and is directly                  of gender is gender budgeting. It is done in an
     withdrawn from the Consolidated Fund of                         economy where socio-economic disparities are
     India.54 For Example, the emoluments of the                     chronic and clearly visible on a sex basis (as in
     President, Speaker and Deputy Speaker of the Lok                India).
     Sabha, Chairman and Deputy Chairman of the                            Gender budgeting started in India with the
     Rajya Sabha, Judges of the Supreme Court and                    Union Budget 2006–07 which proposed an
     the High Courts in India, etc.                                  outlay of Rs. 28,737 crore dedicated to the cause
                                                                     of women and created gender budgeting cells in
        tyPes of Budgets                                             32 ministries and departments.57
     golDen rule                                                     outcome AnD PerformAnce buDgets 58
     The proposition that a government should borrow                 The concepts are part of result-oriented budgeting.
     only to invest (i.e., capital expenditure in India)             While outcome budget is presented by different
     and not to finance current spending (i.e., revenue              departments and divisions of a ministry or the
     expenditure in India) is known as the golden
                                                                     government, the performance budget is presented
     rule of public finance. This rule is undoubtedly
                                                                     by the Ministry of Finance on behalf of the
     prudent but provided spending is honestly
                                                                     government. Both go for ‘quantitative’ as well as
     described as investment, investments are efficient
     and does not crowd out the important private                    ‘qualitative’ progress reports of the performance.
     sector investments.55                                           The outcome budget is a micro level process while
                                                                     performance budget is a macro-level process in
     bAlAnceD buDget                                                 budgeting. There are many outcome budgets in
     A budget is said to be a balanced budget when total             any one performance budget.
     public-sector spending equals total government                        The basic objective of such budgeting is to
     income (revenue receipts) during the same period                bring in transparency and thereby making the
     from taxes and charges for public services.56 In                government more and more responsible to the
     other terms, a budget with zero revenue deficit is              House and the public. Naturally, they bring in
                                                                     prudence and optimisation elements in public
       54.   In the Constitution of India it is deliberated in the
               rticle   ( , a g, where it is referred as e penditure spending (also see entry ‘Outcome Budget’ in
             charged on the consolidated fund of India—popular as    Chapter 23).
             the charged expenditure see inistry of aw, ustice
             and Company Affairs, The Constitution of India,           57.   Ministry of Finance, Union Budget 2006–07, (New
             Government of India, New Delhi, 1999), pp. 38–39).              Delhi: Government of India, 2007).
       55.   see samuelson and Nordhaus, Economics, 710; stiglitz      58.   Based on the notes released by the Ministry of Finance,
             and walsh, Economics, pp. 552–54.                               Government of India, October 2006 while releasing the
       56.   Mathew Bishop, Pocket Economist, p. 104.                        Quarterly Review of the Union Budget 2006–07.