Parliamentary Panel Proposes Cultural Budget Overhaul for Stability

A parliamentary panel in India has recommended a cultural calendar-based budgeting system to enhance financial stability for significant events like the Kumbh Mela, aiming to minimize mid-year adjustments that currently disrupt project execution. The report stresses collaboration between the Ministry of Finance and Culture to create a needs-based budgetary framework and suggests several measures, including a CSR engagement cell and AI-assisted forecasting for better resource prediction. This follows recent efforts by the Punjab Planning and Development Board to integrate Sustainable Development Goals (SDGs) into its budgeting processes, enhancing awareness and capacity in aligning development plans with SDG priorities. These initiatives reflect a growing recognition of the need for improved budgeting practices to support long-term financial planning and effective policy implementation. In both contexts, the emphasis is on creating structured frameworks that can adapt to cyclical events or broader developmental goals. Such strategic approaches could help mitigate financial uncertainty and improve governance outcomes.