Union Budget and the Expenditure Management Commission: Implications for Cost Management

Abstract

The new expenditure management policy of the government should at least open up more prospects for the professional in this area very soon. THE Union Budget for the fiscal year 2014-15 was presented on 10th of July, roughly one and half months after the Bharatiya Janata Party came to power at the center with an overwhelming political majority. The pre-budget discussions on what might be the most compelling decisions to be taken by Mr. Arun Jaitley, currently both the Finance and the Defense Ministers of the union government, heated up the pre-budget market. There were both expectations and apprehensions in view of the general right wing orientation of the new government.