The Union Governments Finance and Appropriation Accounts for 2015-16 along with the Audit report of the Comptroller & Auditor General of India were presented in Parliament today. This is the third time since Independence and the second consecutive time since last year that the Annual Accounts of the Union Government have been tabled in Parliament in the same calendar year.
The Appropriation Accounts for 2015-16 present the actual expenditure incurred by Ministries/Departments of the Union Government in relation to the appropriations voted by Parliament in that year. The Finance Accounts 2015-16 on the other hand, contain the Union Governments Financial Statements, including, the accounts of receipts and expenditure from the Consolidated Fund of India, and balances of Public debt, and other Liabilities and Assets in the Public Account of India.
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