The Budget "Showcases" in Detail and "Spending Money" Must Ask for Efficiency - Interpretation of the Central Budget Disclosure in 2024
2024-03-27
On March 26th, the annual central budget public kicked off, showcasing the "spending" arrangements for the new year to the public. It is reported that this year's public central budget includes the central government budget and central department budget approved by the Second Session of the 14th National People's Congress. "The central government budget is publicly disclosed by the Ministry of Finance. After being approved by the Ministry of Finance, the central department budget is made public to the public by various departments," said the relevant person in charge of the Ministry of Finance. In terms of the central government budget, the content publicly disclosed in 2024 includes the budget situation of the four central banks, the regional budget situation of the central government's transfer payments to local governments, and relevant explanations. In terms of central departmental budgets, the content publicly disclosed in 2024 includes the overall departmental revenue and expenditure budget, the financial allocation revenue and expenditure budget, and explanations of key issues. The reporter flipped through the budget "account books" of various central departments and found that this year, each department has publicly released 9 reports, including the departmental income and expenditure summary table and the financial allocation income and expenditure summary table, which comprehensively and truthfully reflect the overall situation of departmental income and expenditure and the financial allocation income and expenditure situation. At the same time as publicly disclosing the above-mentioned budget statements, each department also provides explanations on changes in budget revenue and expenditure, arrangements for operating expenses of organs, "three public" funds, government procurement, occupation of state-owned assets, budget performance management, and projects submitted to the National People's Congress for review, and explains terms with strong professionalism. Spending money requires efficiency, while being ineffective requires accountability. In recent years, the Ministry of Finance has attached great importance to performance target management, guided and urged central departments to scientifically and reasonably set performance targets, strictly reviewed performance targets, and made performance targets public. "Central departments that require the disclosure of departmental budgets this year should, in principle, disclose the performance target table for general public budget level one projects, government fund budget projects, and state-owned capital operation budget projects to the public at a ratio of no less than 60% of the number of projects," said the person in charge. Experts generally believe that by publicly disclosing performance goals, the "task list, schedule, and effect map" of fiscal funds can be clearly displayed to the public, which is conducive to supervising departments to implement performance responsibilities and effectively improving the efficiency of fiscal fund utilization. If the party and government organs spend less money, they can allocate more money for the cause of people's livelihood. This year, the central budget arrangement at the local level has continued to focus on tight living conditions: concentrating financial resources to ensure the major strategic tasks of the country, and achieving "generous money, petty money"; Ensure the funding for departmental performance and adhere to the principle of pressure and guarantee; Strengthen budget constraints and prevent extravagance and waste. "Promote the central government to streamline unnecessary festivals, forums, and exhibitions, and organize meetings, training, and research more efficiently and economically," said the person in charge. Strictly arrange the budget for the "three public" expenses, and ensure reasonable needs based on facts. Quarterly evaluate the tight living conditions of central departments and link the evaluation results with budget arrangements. In addition, in order to enable the public to find, understand, and supervise, this year's departmental budgets of various departments will continue to be publicly available on the "Central Budget and Final Account Disclosure Platform" set up on the Ministry of Finance portal website, in addition to being publicly available on their own department websites, to facilitate the supervision of government financial work by the people. In the view of industry insiders, budget disclosure is an important part of deepening the reform of the financial and tax system, improving the modern budget system, strengthening budget management, optimizing resource allocation, and hardening the budget
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