Guidance on State Budget Estimation for Initiative Activities

19:06, 10/07/2024

The Ministry of Finance has just issued Circular 03/2019/TT-BTC on January 15, 2019, providing detailed guidance on the preparation of state budget estimates for the implementation of innovation activities.

According to Circular 03, regulations on the formulation of state budget estimates, compliance with the state budget, and finalization of the state budget for initiative activities are implemented according to the provisions of the law. To be specific: as follows:

- Budgeting: Annually, at the time of budgeting for revenue and expenditure of the state budget, Ministries, central agencies, and People's Committees of provinces and centrally-run cities approve the plan to implement initiative activities for the planned year; based on the guidance in Articles 4, 5, and 6 of Circular 03 to prepare budget estimates for initiative activities within the scope of management, incorporating them into the estimates of Ministries, sectors, and localities (according to budget management decentralization) and send them to financial agencies for submission to competent authorities for approval.

For the year 2019, Ministries, central agencies, and People's Committees of provinces and centrally-run cities proactively allocate funds within the approved budget estimates to carry out initiative activities according to the guidance.

- Allocation, assignment of estimates, and finalization of funds for initiative activities: To be implemented according to the provisions of the Law on State Budget and guiding documents.

See details at Circular 03/2019/TT-BTC effective from March 3, 2019.

-Thao Uyen-

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