Parliament today completed the three-phase exercise of approving the General Budget 2011-12. The completion includes Parliamentary approval for appropriation of over Rs 46 lakh crore from the Consolidated Fund of India. The Rajya Sabha returned the Finance Bill 2011 and Appropriation Bills to the Lok Sabha, thus signalling the completion of the Budgetary exercise.
Finance Minister Pranab Mukherjee moved the Bill to give effect to the financial proposals of the Central Government for 2011-12, as earlier passed by Lok Sabha. The Bill was returned by a voice vote. Similarly, the House also returned the Bill to authorise payment and appropriation of certain sums from and out of the Consolidated Fund of India for the services of the next financial year.
Mukherjee had unveiled the Budget on February 28 in the Lok Sabha. Earlier, both the Houses had approved Demand for Grants for 2011-12.