A. Annual Financial Statement
(AFS)
B. Demand for Grants (DG)
C.
Appropriation Bill
D. Finance Bill
E. Memorandum Explaining the Provisions in the Finance Bill, 2008
F. Macro-economic framework for the relevant financial year
G. Fiscal Policy Statement for the financial year
H. Medium Term Fiscal Policy Statement
I. Expenditure Budget Volume -1
J. Expenditure Budget Volume -2
K. Receipts Budget
L. Budget at a glance
M. Highlights of Budget
N.
Status of Implementation of Announcements made in Finance Minister's Budget Speech of the
previous financial year.
The documents shown from Sl. A, B, C and D are
mandated by Art. 112, 113, 114(3) and 110(a) of the Constitution of India respectively
while the documents at Sl. F, G and H are presented as per the provisions of the
Fiscal Responsibility and Budget
Management Act 2003. Other documents are in the nature of explanatory statements
supporting the mandated documents with narrative or other content in a user friendly
format suited for quick or contextual references. Hindi version of all these documents is
also presented to Parliament. A web version is hosted at https://www.indiabudget.gov.in/budget_archive/ub2008-09/ubmain.htm,
with hyperlinks, intended to make surfing more efficient.
2. In addition to the above, individual
Departments/Ministries also prepare and present to Parliament their Detailed Demands for
Grants, Performance and Outcome Budget, and their Annual Reports. The web versions of
these documents are normally posted by the respective ministries/departments on their web
sites.
3. The Economic Survey which highlights
the economic trends in the country and facilitates a better appreciation of the
mobilization of resources and their allocation in the Budget and the document "Economic and Functional
Classification of the Central Government Budget" are brought out by the Economic
Division of Department of Economic Affairs, Ministry of Finance. The Economic Survey is
presented to Parliament usually in advance of the Union Budget.
The
web
version of Economic Survey 2007-08 can be accessed from the Finance Ministry's web
site at https://www.indiabudget.gov.in/budget_archive/es2007-08/esmain.htm.
4. A brief description of individual Budget documents is
given below.
4. (A)
Annual Financial Statement (AFS), the core
budget document, shows estimated receipts and disbursements by the Government of India for
2008-09 in relation to estimates for 2007-08 as also to audited expenditure for the year
2006-07. The receipts and disbursements are shown under the
three parts, in which Government Accounts are kept viz.,(i)
Consolidated Fund, (ii)
Contingency Fund and (iii)
Public Account. Under the Constitution, Annual
Financial Statement distinguishes expenditure on revenue account from other expenditure.
Government Budget, therefore, comprises Revenue Budget and Capital Budget. The estimates
of expenditure included in the Annual Financial Statement are for the net expenditure,
i.e., after taking into account the recoveries, as will be reflected in the accounts.
The significance of the Consolidated Fund, the
Contingency Fund and the Public Account as well as the distinguishing features of Revenue
and Capital Budget are given briefly below.
(i) The existence of the Consolidated Fund of
India (CFI) flows from Article 266 of the Constitution. All revenues received by Government,
loans raised by it, and also its receipts from recoveries of loans granted by it form the
Consolidated Fund. All expenditure of Government is incurred from the Consolidated Fund of
India and no amount can be drawn from the Consolidated Fund without authorisation from
Parliament.
(ii) Article 267 of the Constitution authorises
the Contingency Fund which is an imprest placed at the disposal of the President of India
facilitate Government to meet urgent unforeseen expenditure pending authorization from
Parliament. Parliamentary approval for such unforeseen expenditure is obtained, post-facto,
and an equivalent amount is drawn from the Consolidated Fund to recoup the Contingency Fund.
The corpus of the Contingency Fund as authorized by Parliament presently stands at Rs. 500
crore.
(iii) Moneys held by Government in Trust as in
the case of Provident Funds, Small Savings collections, income of Government set apart for
expenditure on specific objects like road development, primary education, Reserve/Special
Funds etc. are kept in the Public Account. Public Account funds do not belong to Government
and have to be finally paid back to the persons and authorities who deposited them.
Parliamentary authorisation for such payments is, therefore, not required, except where
amounts are withdrawn from the Consolidated Fund with the approval of Parliament and kept in
the Public Account for expenditure on specific objects, in which case, the actual
expenditure on the specific object is again submitted for vote of Parliament for drawl from
the Public Account for incurring expenditure on the specific object.
(iv) Revenue Budget consists of the revenue
receipts of Government (tax revenues and other revenues) and the expenditure met from these
revenues. Tax revenues comprise proceeds of taxes and other duties levied by the Union. The
estimates of revenue receipts shown in the Annual Financial Statement take into account the
effect of various taxation proposals made in the Finance Bill. Other receipts of Government
mainly consist of interest and dividend on investments made by Government, fees, and other
receipts for services rendered by Government. Revenue expenditure is for the normal running
of Government departments and various services, interest payments on debt, subsidies, etc.
Broadly the expenditure which does not result in creation of assets for Government of India
is treated as revenue expenditure. All grants given to State Governments/Union Territories
and other parties are also treated as revenue expenditure even though some of the grants may
be used for creation of assets.
(v) Capital Budget consists of capital receipts
and capital payments. The capital receipts are loans raised by Government from public,
called market loans, borrowings by Government from Reserve Bank and other parties through
sale of Treasury Bills, loans received from foreign Governments and bodies, and recoveries
of loans from State and Union Territory Governments and other parties. Capital payments
consist of capital expenditure on acquisition of assets like land, buildings, machinery,
equipment, as also investments in shares, etc., and loans and advances granted by Central
Government to State and Union Territory Governments, Government companies, Corporations and
other parties. Capital Budget also incorporates transactions in the Public Account.
(vi)
Accounting Classification
• The estimates of receipts and disbursements
in the Annual Financial Statement and of expenditure in the Demands for Grants are shown
according to the accounting classification prescribed under Article 150 of the Constitution,
which enables Parliament and the public to make a meaningful analysis of allocation of
resources and purposes of Government expenditures.
• The Annual Financial Statement shows
separately, certain disbursements as charged on the Consolidated Fund of India, where the
Constitution mandates such items of expenditure, like emoluments of the President, salaries
and allowances of the Chairman and the Deputy Chairman of the Rajya Sabha and the Speaker and
the Deputy Speaker of the Lok Sabha, salaries, allowances and pensions of Judges of the
Supreme Court, Comptroller and Auditor-General of India and the Central Vigilance Commission,
interest on and repayment of loans raised by Government and payments made to satisfy decrees
of courts etc. These items of expenditure are charged on the Consolidated Fund of India and
are not required to be voted by the Lok Sabha.
4. (B)
Demands
for Grants
(i) Article 113 of the Constitution mandates
that the estimates of expenditure from the Consolidated Fund of India included in the Annual
Financial Statement and required to be voted by the Lok Sabha are submitted in the form of
Demands for Grants. The Demands for Grants are presented to the Lok Sabha along with the
Annual Financial Statement. Generally, one Demand for Grant is presented in respect of each
Ministry or Department. However, in respect of large Ministries or Departments more than one
Demand is presented. In regard to Union Territories without Legislature, a separate Demand
is presented for each of the Union Territories. In budget 2008-09 there are 105 Demands for
Grants. Each Demand first gives the totals of 'voted' and 'charged' expenditure as also the
'revenue' and 'capital' expenditure included in the Demand separately and also the grand
total of the amount of expenditure for which the Demand is presented. This is followed by
the estimates of expenditure under different major heads of account. The breakup of the
expenditure under each major head between 'Plan' and 'Non-Plan' is also given. The amounts
of recoveries taken in reduction of expenditure in the accounts are also shown. A summary of
Demands for Grants is given at the beginning of this document, while details of 'New
Service' or 'New Instrument of Service' such as formation of a new company, undertaking or a
new scheme, etc., if any, are indicated at the end of the document.
(ii) Each Demand normally includes the total
provisions required for a service, that is, provisions on account of revenue expenditure,
capital expenditure, grants to State and Union Territory Governments and also loans and
advances relating to the service. Where the provision for a service is entirely for
expenditure charged on the Consolidated Fund of India, for example, interest payments
(Demand for Grant No. 31), a separate Appropriation, as distinct from a Demand, is presented
for that expenditure and it is not required to be voted by Lok Sabha. Where, however,
expenditure on a service includes both 'voted' and 'charged' items of expenditure, the
latter are also included in the Demand presented for that service but the 'voted' and
'charged' provisions are shown separately in that Demand.
4. (C) Appropriation Bill
After the Demands for Grants are voted by the
Lok Sabha, Parliament's approval to the withdrawal from the Consolidated Fund of the
amounts so voted and of the amount required to meet the expenditure charged on the
Consolidated Fund is sought through the Appropriation Bill. Under Article 114(3) of the
Constitution, no amount can be withdrawn from the Consolidated Fund without the enactment
of such a law by Parliament.
The whole process beginning with the
presentation of the Budget and ending with discussions and voting on the Demands for
Grants requires sufficiently long time. The Lok Sabha is, therefore, empowered by the
Constitution to make any grant in advance in respect of the estimated expenditure for a
part of the financial year pending completion of procedure for the voting of the Demands.
The purpose of the 'Vote on Account' is to keep Government functioning, pending voting of
'final supply'. The Vote on Account is obtained from Parliament through an Appropriation
(Vote on Account) Bill.
4. (D)
Finance
Bill
At the time of presentation of the Annual
Financial Statement before Parliament, a Finance Bill is also presented in fulfillment of
the requirement of Article 110 (1)(a) of the Constitution, detailing the imposition,
abolition, remission, alteration or regulation of taxes proposed in the Budget. A Finance
Bill is a Money Bill as defined in Article 110 of the Constitution. It is accompanied by a
Memorandum explaining the provisions included in it.
4. (E)
Memorandum
Explaining the Provisions in the Finance Bill
To facilitate understanding of the taxation
proposals contained in the Finance Bill, the provisions and their implications are
explained in the document titled Memorandum Explaining the Provisions of the Finance Bill.
4. (F)
Macro-economic
Framework Statement
The Macro-economic Framework Statement,
mandated under Section 3(5) of the Fiscal Responsibility and Budget Management Act and the
rules made thereunder contains an assessment of the growth prospects of the economy with
specific underlying assumptions. It contains assessment regarding the GDP growth rate,
fiscal balance of the Central Government and the external sector balance of the economy.
4. (G)
Fiscal
Policy Strategy Statements
The Fiscal Policy Strategy Statement, mandated
by Sec. 3(3) and (4) of the Fiscal Responsibility and Budget Management Act, outlines the
strategic priorities of Government in the fiscal area for the ensuing financial year
relating to taxation, expenditure, lending and investments, administered pricing,
borrowings and guarantees. The Statement explains how the current policies are in
conformity with sound fiscal management principles and gives the rationale for any major
deviation in key fiscal measures.
4. (H)
Medium-term
Fiscal Policy Statement
The Medium-term Fiscal Policy Statement,
presented under Sec. 3(2) of the Fiscal Responsibility and Budget Management Act 2003,
sets out three-year rolling targets for four specific fiscal indicators in relation to GDP
at market prices namely (i) Revenue Deficit, (ii) Fiscal Deficit, (iii) Tax to GDP ratio
and
(iv) Total out-standing Debt at the end of the year. The Statement includes the underlying
assumptions, an assessment of sustainability relating to balance between revenue receipts
and revenue expenditure and the use of capital receipts including market borrowings for
generation of productive assets.
4.2 To facilitate a more comprehensive
understanding of the major features of the Budget, certain other explanatory documents are
presented. These are briefly summarized below.
4. (I)
Expenditure
Budget Volume-1
(i) This document deals with revenue and
capital disbursements of various Ministries/Departments and gives the estimates in respect
of each under 'Plan' and 'Non-Plan'. It also gives analysis of various types of expenditure
and broad reasons for the variations in estimates.
(ii) Under the present accounting and budgetary
procedures, certain classes of receipts, like payments made by one department to another and
receipts of capital projects or schemes, are taken in reduction of the expenditure of the
receiving department. The estimates of expenditure included in the Demands for Grants are
for the gross amounts. While the estimates of expenditure included in the
Annual Financial Statement are for the net expenditure, after taking
into account the recoveries. The document Expenditure Budget makes certain other refinements
like netting expenditure of related receipts so that inflation of receipts and expenditure
figures are avoided and there can be a better appreciation of the magnitudes of various
expenditure. Contributions to International bodies and
estimated strength of establishment of various Government Departments
and provision therefor are shown in separate annexes. A statement each showing (i)
Plan grants and loans released by Ministries/Departments directly to
State and district level autonomous bodies, under various Central and Centrally
Sponsored Plan schemes, (ii) Gender Budgeting and
(iii) Schemes for development of Scheduled Castes and Scheduled
Tribes are also included in this document.
(iii)
Plan Outlay
Plan expenditure forms a sizeable proportion of
the total expenditure of the Central Government. The Demands for Grants of the various
Ministries show the Plan expenditure under each head separately from the Non-Plan
expenditure. The Expenditure Budget Vol. 1 also gives the total Plan provisions for each of
the Ministries arranged under the various heads of development and highlights the budget
provisions for the more important Plan programmes and schemes. A description of important
schemes included in the Plan along with the objectives, targets and achievements is given in
the Outcome Budget of the respective Ministry. Variations in the estimates of Plan
expenditure are also explained.
(iv) Public Sector Enterprises
A
large part of the Plan expenditure incurred
by the Central Government is through
public sector enterprises. Budgetary
support for financing outlays of these
enterprises is provided by Government
either through investment in share capital
or through loans. Expenditure Budget
Vol. 1 shows the estimates of capital
and loan disbursements to public sector
enterprises in 2007-2008 and 2008-2009
for Plan and Non-Plan purposes and also
the extra budgetary resources available
for financing their Plans. A detailed
report on the working of public sector
enterprises is given in the document
titled 'Public Enterprises Survey' brought
out separately by the Department
of Public Enterprises. A report
on the working of the enterprises under
the control of the various administrative
Ministries is also given in the Annual
Reports of the various Ministries circulated
to Members of Parliament separately.
The annual reports along with the audited
accounts of each of the Government companies
are also separately laid before Parliament.
Besides, the reports of the Comptroller
and Auditor General of India
on the working of various public sector
enterprises are also laid before Parliament.
(v) Commercial Departments
Railways is the principal departmentally-run
commercial undertaking of Government. The Budget of the Ministry of Railways and the Demands
for Grants relating to Railway expenditure are presented to Parliament separately. The total
receipts and expenditure of the Railways are, however, incorporated in the Annual Financial
Statement of the Government of India. To portray the actual working and not inflate either
receipts or expenditure, the expenditure as reflected in the Receipts Budget &
Expenditure Budget Vol. 1 and Vol. 2 has been taken net of receipts. The Demands for Grants
of the Department of Telecommunications
are presented
along with other Demands of the Central Government.
(vi) The receipts and expenditure of the Defence
Department shown in the Annual Financial Statement, are explained in greater detail in the
document Defence Services Estimates presented along with the Detailed Demands for Grants of
the Ministry of Defence.
(vii) The details of grants given to bodies other
than State and Union Territory Governments are given in the statements of Grants-in-aid paid
to non-Government bodies appended to Detailed Demands for Grants of the various Ministries.
Annexure 5 to Expenditure Budget Vol.1 shows details of grants-in-aid exceeding Rs. 5 lakhs
(recurring) or Rs. 10 lakhs (non-recurring) to private institutions, organizations and
individuals sanctioned during the year 2006-07.
4. (J) Expenditure
Budget Volume-2
The provisions made for a scheme or a programme
may spread over a number of Major Heads in the Revenue and Capital sections in a Demand
for Grants. In the Expenditure Budget Vol. 2, the estimates made for a scheme/programme
are brought together and shown on a net basis at one place, by Major Heads. To understand
the objectives underlying the expenditure proposed for various schemes and programmes in
the Demands for Grants, suitable explanatory notes are included in this volume in which,
wherever necessary, brief reasons for variations between the Budget estimates and revised
estimates for the current year and requirements for the ensuing Budget year are also
given.
4. (K)
Receipts
Budget
Estimates of receipts included in the Annual Financial Statement
are further analysed in the document "Receipts Budget". The document provides
details of tax and non-tax revenue receipts and capital receipts and explains the
estimates. The document also provides the arrears of tax revenues and non-tax revenues, as
mandated under the Fiscal Responsibility and Budget Management Rules, 2004. Trend of
receipts and expenditure along with deficit indicators, statement pertaining to
National
Small Savings Fund (NSSF), statement of revenues
foregone, statement of
liabilities, statement of guarantees given by the government, statements of assets and
details of external assistance are also included in Receipts Budget.
4. (L)
Budget
at a Glance
(i) This document shows in brief, receipts
and disbursements along with broad details of tax revenues and other receipts. This document also exhibits broad break-up of expenditure -
Plan and Non-Plan, allocation of Plan outlays by sectors as well as by
Ministries/Departments and details of resources transferred by the Central Government to
State and Union Territory Governments. This document also shows the revenue deficit, the
gross primary deficit and the gross
fiscal
deficit of the Central Government. The excess of Government's revenue expenditure over
revenue receipts constitutes revenue deficit of Government. Government mainly borrows
through issue of dated securities, i.e. market borrowings. Apart from this, Government also
borrows funds under many schemes which form part of capital receipts. The difference between
the total expenditure of Government by way of revenue, capital and loans net of repayments
on the one hand and revenue receipts of Government and capital receipts which are not in the
nature of borrowing but which finally accrue to Government on the other, constitutes gross
fiscal deficit. Gross primary deficit is measured by gross fiscal deficit reduced by gross
interest payments. In the Budget documents 'gross fiscal deficit' and 'gross primary
deficit' have been referred to in abbreviated form 'fiscal deficit' and 'primary deficit',
respectively.
(ii) The document also includes a statement
indicating the quantum and nature (share in Central Taxes, grants/loan) of the total
Resources transferred to States and Union Territory Governments. Details of these transfers
by way of share of taxes, grants-in-aid and loans are given in Expenditure Budget Volume.1.
Bulk of grants and loans are disbursed by the Ministry of
Finance and are included in the Demand 'Transfers to State and Union Territory
Governments'. The grants and loans released to States and Union Territories by other
Ministries/Departments are provided for in their respective Demands.
4. (M)
Highlights of
Budget
This document explains the key features of the
Budget 2008-09, inter alia, indicating the prominent achievements in various sectors of
the economy. It also explains, in brief, the budget proposals for allocation of funds to
be made in important areas. The summary of tax proposals is also reflected in the
document.
4. (N)
Status
of Implementation of Announcements made in Finance Minister's Budget
Speech 2007-08
This document indicates the action taken and
action in progress on the announcements made in the last budget. The position as in the
first week of February, 2008 is reflected in this document.
4. (O)
Detailed Demands for Grants
The Detailed Demands for Grants are laid on
the table of the Lok Sabha sometime after the presentation of the Budget, but before the
discussion on Demands for Grants commences. Detailed Demands for Grants further elaborate
the provisions included in the Demands for Grants as also actual expenditure during the
previous year. A break-up of the estimates relating to each programme/organisation,
wherever the amount involved is not less than Rs.10 lakhs, is given under a number of
object heads which indicate the categories and nature of expenditure incurred on that
programme, like salaries, wages, travel expenses, machinery and equipment, grants-in-aid,
etc. At the end of these Detailed Demands are shown the details of recoveries taken in
reduction of expenditure in the accounts.
4. (P) Outcome Budget
(i) With effect from Financial Year 2007-08, the
Performance Budget and the Outcome Budget hitherto presented to Parliament separately by Ministries/Departments,
are merged and presented as a single document titled "Outcome Budget" by each
Ministry/Department in respect of all Demands/Appropriations controlled by them, except
those exempted from this requirement. Outcome Budget broadly indicates physical dimensions
of the financial budget of a Ministry/Department, indicating actual physical performance in
the preceding year (2006-2007), performance in the first nine months (up to December) of the
current year (2007-2008) and the targeted performance during the ensuing year (2008-2009).
(ii) Outcome Budget contains a brief introductory
note on the organization and function of the Ministry/Department, list of major
programmes/schemes implemented by the Ministry/Department, its mandate, goal and policy
framework, budget estimates, scheme-wise analysis of physical performance and linkage
between financial outlays and outcome, review covering overall trends in expenditure
vis-a-vis budget estimates in recent years, review of performance of statutory and
autonomous bodies under the administrative control of the Ministry/Department, reform
measures, targets and achievements and plan for future refinements.
(iii) As far as feasible, coverage of women and
SC/ST beneficiaries under various developmental schemes and schemes for the benefit of North
Eastern Region are also separately indicated.
4. (Q) Annual Reports
A descriptive account of the activities of each
Ministry/Department during the year 2007-2008 is given in the document Annual Report which
is brought out separately by each Ministry/Department and circulated to Members of
Parliament at the time of discussion on the Demands for Grants.
4. (R)
Economic
Survey
The Economic Survey brings out the economic
trends in the country, which facilitates a better appreciation of the mobilisation of
resources and their allocation in the Budget. The Survey analyses the trends in
agricultural and industrial production, infrastructure, employment, money supply, prices,
imports, exports, foreign exchange reserves and other relevant economic factors which have
a bearing on the Budget, and is presented to the Parliament ahead of the Budget for the
ensuing year.
The
Budget of the Central Government is
not merely a statement of receipts and
expenditure. Since Independence, with
the launching of Five Year Plans, it
has also become a significant statement
of governmental policy. The Budget reflects
and shapes, and is, in turn, shaped
by the country's economic life. For
a better appreciation of the impact
of governmental receipts and expenditure
on the other sectors of the economy,
it is necessary to group them in terms
of economic magnitudes, for example,
how much is set aside for capital formation,
how much is spent directly by the Government
and how much is transferred by Government
to other sectors of the economy by way
of grants, loans, etc. This analysis
is contained in the document Economic
and Functional Classification of
the Central Government Budget which
is brought out by the Ministry of Finance
separately.
INDEX
|
Topics |
Paragraph Number
|
| Accounting
classification |
4(A)(vi) |
| Annual
Financial Statement |
4(A),4(A)(iv),(vi),4(B)(i),4(D),4(I)(ii),
(v),(vi),4(K)
|
| Annual
Report |
2,4(I)(iv),4(Q) |
| Appropriation |
4(B)(ii),4(P) |
| Appropriation
Bill |
4(C) |
|
Appropriation
(Vote on Account) Bill
|
4(C) |
| Budget
at a Glance |
4(L) |
| Budget/Budget
of the Central Government |
4(R) |
| Capital
Budget |
4(A),4(A)(v) |
| Charged
Expenditure |
4(B)(i) |
| Consolidated
Fund |
4(A),4(A)(i)(ii)(iii)(vi),4(B)(i)(ii),4(C) |
| Contingency
Fund |
4(A),4(A)(ii) |
| Defence
Services Estimates |
4(I)(vi) |
|
Demands
for Grants
|
4(A)(vi),4(B)(i),4(C),4(I)(ii),(iii),(v),4(J),4(O),
4(Q)
|
| Detailed
Demands for Grants |
2,4(I)(vi),(vii),4(O) |
|
Economic
and functional classification of the
Central
Government Budget
|
3,4(R) |
| Economic
Survey |
3,4(R) |
| Expenditure
Budget |
4(I),(ii)(iii)(iv)(vii),
4(J),4(L)(ii) |
| External
Assistance |
4(K) |
| Extra
Budgetary Resources |
4(I)((iv) |
| Finance
Bill |
4(A)(iv),4(D),4(E) |
| Fiscal
Deficit |
4(H),4(L)(i) |
| Fiscal
Policy Strategy Statement |
4(G) |
| Grants-in-aid |
4(I)(vii) |
| Guarantees
given by the Central Government |
4(K) |
| International
Bodies - Contribution to Market Loans |
4(I)((ii) |
| Macro-economic
Framework Statement |
4(F) |
| Medium-term
Fiscal Policy Statement |
4(H) |
Memorandum
Explaining the Provisions in the
Finance Bill |
4(D),4(E) |
|
New
Service
|
4(B)(i) |
|
Outcome
Budget
|
2,4(I)(iii),4(P)(i)(ii) |
| Plan
Outlay |
4(I)(iii),4(L)(i) |
| Public
Account |
4(A),4(A)(iii),(v) |
|
Public
Enterprises Survey
|
4(I)(iv) |
|
Public
Sector Enterprises
|
4(I)(iv) |
|
Railways
|
4(I)(v) |
|
Receipts
Budget
|
4(I)(v),4(K) |
|
Resources
transferred to States/Union Territories
|
4(L)(i)(ii) |
|
Revenue
Budget
|
4(A)(iv) |
|
Revenue
Deficit
|
4(H),4(L)(i) |
Statement
of Action Taken on Budget Announcements
|
4(N) |
Strength
of Establishment of Govt Deptts
|
4(I)(ii) |
Summary
of Demands for Grants
|
4(B)(i) |
|
Treasury
Bills
|
4(A)(v) |
| Vote
on Account |
4(C) |
