The Union Government’s 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 Government’s 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.

Presentation of Annual Accounts: Union annual accounts and audit report tabled, outlining appropriations and financial statements. Presentation of the Union Government's annual accounts and audit report to Parliament effected tabling of the statutory financial statements. The Appropriation Accounts set out actual expenditure by Ministries and Departments against parliamentary appropriations, while the Finance Accounts present receipts and expenditure from the Consolidated Fund and the balances of Public Debt and assets and liabilities in the Public Account; the audit report accompanies these statements to inform parliamentary scrutiny.