Budget Law

Budget Law


the set of legal norms that determine the budget setup of a country and regulate social relationships in the formation and use of national monetary resources. Soviet budget law—one of the most important institutions of financial law—does not regulate all relationships concerning the state budget but only organizational-financial relationships that are established primarily among various state bodies. Because the state budget of the USSR includes the budget of state social insurance, which is drawn up by the All-Union Central Council of Trade Unions and executed by trade union bodies, Soviet budget law also regulates the relationships between state bodies and trade union bodies involved with this budget.

The norms of Soviet budget law are divided into material and procedural. The former include the norms that determine budget setup (various types of budgets, the relationship among them, and the principles of the formation of their revenue); the budget powers of the USSR, the Union and autonomous republics, and administrative-territorial units; and the norms that determine the composition of revenue and the direction of expenditures from the state budget of the USSR, their distribution among different elements of the budgetary system, and the order of their allocation to particular budgets. The procedural norms regulate the drawing up, examination, ratification, and execution of the state budget of the USSR and the reports on its execution.

A very important feature of the Soviet budgetary setup is the uniformity of the budget system, which means that the union, republic, and local budgets do not exist in isolation but rather are amalgamated into a single USSR state budget. Only the Union of Soviet Socialist Republics is given the right to set the taxes and revenue that are received to form the union, republic, and local budgets. Part of the revenue of republic and local budgets is covered by the revenue from the sources assigned to them and part is received by them through deductions from all-Union state taxes and revenue, established each year during ratification of the higher-ranking budget. Ratification of budgets goes as follows: first, the state budget of the USSR is ratified, and then on the basis of it the state budgets of the Union republics are ratified; on the basis of these the state budgets of the autonomous republics and local budgets are ratified. During ratification of each higher-ranking budget, the overall sums of revenue and expenditures for lower-ranking budgets are established. Such financial centralization gives the budget system and financial policy of the Soviet state a uniformity and ensures financing for measures envisioned by the state plan for the economic development of the USSR economy and also for measures of all-Union or republic significance, with participation by Union and autonomous republics and administrative-territorial units in carrying out these measures. The uniformity of the budget system offers the possibility of redistributing part of national income and financial resources among Union and autonomous republics, economic regions, and administrative-territorial units. In the USSR budgetary centralization is combined with extensive independence for the republics and administrative-territorial units; each Union and autonomous republic and each local soviet (krai, oblast, okrug, city, raion, settlement, and rural area) has the right to its own budget, the size of which is determined during the ratification of the higher-ranking budget and finally approved by the supreme soviet of the appropriate republic or the higher-ranking local soviet. When ratifying the budgets of lower-ranking soviets, these bodies may increase the total sum of revenue and expenditures fixed for the republic or administrative-territorial unit during the ratification in the higher-ranking budget. A draft of the budget is drawn up by the executive and administrative bodies of the soviets which have the right to ratify the budget. Budget initiative, that is, the right to introduce a draft for consideration and ratification by a soviet, belongs accordingly to the government of the Union (or autonomous) republic or executive committee of the local soviet. The Law on the State Budget of the USSR and the decision of a local soviet on the budget are published for general information.

The primary sources of existing budget law are the law On the Budget Powers of the USSR and the Union Republics (Oct. 30, 1959) and the laws adopted in all Union and autonomous republics on the budget rights of republics and local soviets.


Mentioned in ?
References in periodicals archive ?
This exchange is enabled through specific provisions in the 2015 Ukrainian budget law.
Stressing that the existing law is so sufficient and there is no need for a fresh bill, the minister said it is possible to add some articles to the budget law.
A parliamentary source told the National Iraqi News Agency / NINA/ "the meeting, which will be held this afternoon in the House of Representatives, will discuss the budget law for 2016, and to take a unified stance towards it.
TUNIS, (TAP) - An inner Cabinet meeting, on Monday, looked at the new draft organic budget law which has 73 articles divided into 7 headings and 11 chapters.
Iraq's 2015 Budget Law introduced a number of provisions aimed at broadening the tax revenue base through introduction of new sales taxes, applicable to consumer products such as tobacco and internet services, amongst others, in addition to the implementation of the long-awaited customs duty law.
The agreement was approved within the framework of the Iraqi Federal Budget Law for 2015.
Summary: The Lower House Financial Committee on Tuesday presented its notes on the draft 2015 state budget law to deputies, providing a set of recommendations to stimulate the economy and cut the budget deficit.
However, the KRG and Abadi's government have reached a deal, easing that obstacle to the new budget law passing.
ROMA (CyHAN)- The Italian Senate on Friday passed the 2015 budget law, paving the way for the final approval in the lower house.
The account will be submitted to the Cabinet for review before presenting it to parliament according to Article 49 of the Budget Law.
He added that the oil ministry's efforts for diversification of markets and improving communications with big world companies have created some opportunities for realization of oil revenues planned in budget law.
According to the current year's budget law, the administration is allowed to increase water and electricity bills by a maximum of 38 percent, he said.

Full browser ?