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| Type | NFR Policy |
|---|---|
| Topic | ticket-checking |
| Currency | Currency not verified |
The revised estimate of the current year and the budget estimate for the next year are
RAILWAY ACCOUNTS & FINANCE STC/NBQ/NFR ORGANISATION AND OBJECTIVES ACCOUNT DEPARTMENT In technical sense, 'Account' may be defined as a statement of facts or transactions relating to money, or things having money value; and Accounting is the process of recording, summarizing and interpreting such statements. Since IR is a Govt. undertaking, it's major decision are subject to control of parliament. It cannot spend any money without approval of the parliament through Railway Budget. Therefore assisting Railway Administration in budgeting is also very important job of accounts department. The Financial Commissioner, Railways is the professional head of the Railways Financial Organisation and represents the Government of India, Finance Department on the Railways Board. He is vested with full powers of the Government of India to sanction Railway expenditure subject to the general control of the Finance Minister. The Head of the Accounts department of a Zonal Railways is known as Financial Adviser and Chief Accounts Officer, abbreviated as FA&CAO. At his headquarters, he is helped by Financial Advisers in regard to Budget, Works, Tenders, creation of Posts etc. FUNCTION: The main task of Railway Accounts Department is to advice management on financial matters & maintains account in the prescribed Performa. A necessary part of this function is to scrutinize all transactions and bring to record only those transactions which are legitimately chargeable to Railway revenues. This function is known as "Internal Check". It is also the duty of the Accounts, department to settle all claims against the railways, arising out of those transactions which it finds to be legitimate and regular, promptly. In short, the functions of accounts department may be summarized as under. To check with reference to rules or orders (known as "Internal check") of transactions affecting the receipts and expenditure of railways; To settle proper claims against the railways promptly. Keeping the accounts of the railway in accordance with the prescribed rules; Tendering, advice to the administration, whenever required or necessary in all matters involving railway finance in chiding budgeting & budget control. Seeing that there are no financial irregularities in the transactions of the railway. To play role of a management accountant. BUDGETING ON RAILWAYS: Budget is a statement of the estimated annual receipts and expenditure both on Capital as well as Revenue transactions of an organisation. It is a process of planning and reviewing the activities of an organisation. These statements are submitted to both the Houses of Parliament viz. Lok Sabha and Rajya Sabha. The expenditure on Railways may be either Voted or Charged. The expenditure covered under the former category requires the approval of Parliament. In respect of charged expenditure, the sanction of the President is conveyed without being submitted for the vote of parliament. It is one of the means by which Parliamentary control on Railways is exercised. Parliament has got the powers to assent or to refuse to assent or to reduce the amount proposed by the Railways Ministry during the course of discussion on Railway Budget. The voteble part of expenditure together with the charged appropriation is presented to Parliament in the form of Demands or Grants. As at present there are 16 demands for grants. Grant 3 to 13 is taken under Revenue budget and grants-16 is taken under Capital budget. DEMANDS FOR GRANTS 1. Railway Board 2. Research, Audit and Misc. Establishment 3. General Superintendence and Services on Railways. 4. Repairs and Maintenance – Permanent Ways and Works. 5. Repairs and Maintenance of Motive power 6. Repairs and Maintenance of Carriage and Wagons 7. Repairs and Maintenance of Plant and Equipments 8. Operating Expenses – Rolling Stock and equipments 9. Operating Expenses – Traffic 10. Operating Exp
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