Most Famous List of Computer Abbreviations and Meanings

Most Famous List of Computer Abbreviations and Meanings

A

ACE – Access Control Entry
ACL – Access Control List
ADO – Active Data Objects
ADSL – Asymmetric Digital Subscriber Line
AGP – Accelerated Graphics Port
AI – Artificial Intelligence
ALGOL – Algorithmic Language
ALU – Arithmetic Logic Unit
ANSI – American National Standards Institute
AOL – America Online
API – Application Program Interface
APIPA – Automatic Private Internet Protocol Addressing
APT – Automatically Programmed Tooling
ARP – Address Resolution Protocol
ARPANET – Advanced Research Projects Agency Network
ASCII – American Standard Code for Information Interchange
ASF – Advanced Streaming Format
ASM – Association for Systems Management
ASP – Active Server Pages
ATAPI – Advanced Technology Attachment Packet Interface
ATM – Asynchronous Transfer Mode
AUI – Attachment Unit Interface
AVI – Audio Video Interleave

B

B2B – Business to Business
B2C – Business to Commerce
BASIC – Beginner's All Purpose Symbolic Instruction Code
BCD – Binary Coded Decimal
BDPS – Business Data Processing Systems
BHTML – Broadcast Hyper Text Markup Language
BIOS – Basic Input Output System
BIU – Bus Interface Unit
BMP – Bitmap
BPS – Bytes Per Seconds

C

CAD – Computer Aided Design
CADD – Computer Added Drafting and Design
CAI – Computer Aided Instructuion
CAM – Computer Aided Manufacturing
CAR – Control Address Register
CASE – Computer Aided Software Engineering
CCIS – Common Channel Interoffice Signaling
CCNA – Cisco Certified Network Associate
CD–WORM – Compact Disc – Write Once Read Many
CD RW – Compact Disc ReWritable
CD – Compact Disc
C-DAC – Centre for Development of Advanced Computing
CDMA – Code Division Multiple Access
CDONTS – Collabaration on Data Objects for Windows NT Server
CDROM – Compact Disc Read Only Memory
CFG – Control Flow Graph
CGI – Common Gateway Interface
CGM – Computer Graphics Metafile
CIDR – Classless Inter–Domain Routing 
CIM– Computer Integrated Manufacture
CISC – Complex Instruction Set Computers
CIX – Commercial Internet Exchange
CLR – Common Language Runtime
CMOS – Complementary Metal Oxide Semiconductor
CMS – Content Management System
CMYK – Cyan, Magenta, Yellow, Key (black)
COBOL – Common Business Oriented Language
COM – Component Object Model
CORBA – Common Object Request Broker Architecture
CPI – Clock Cycle Per Instruction
CPU – Central Processing Unit
CRC – Cyclic Redundancy Check
CRM – Customer Relationship Management
CROM – Control Read Only Memory
CRT – Cathode Ray Tube
CUI – Character User Interface

D

DAC – Digital to Analog Converter
DAO – Data Access Objects
DARPANET – Defense Advanced Research Projects Agency Network
DAT – Digital Audio Tape
DBA – Data Base Administrator
DBMS – Data Base Management System
DCA – Defence Communication Agency
DCL – Data Control Language
DCOM – Distributed Component Object Model
DCP – Data Communication Processor
DDL – Data Definition Language
DDOS – Distributed Denial of Service
DDP – Distributed Data Processing
DFD – Data Flow Diagram
DFS – Distributed File System
DHCP – Domain Host Configuration Protocol
DHTML – Dynamics Hyper Text Markup Language
DLC – Data Link Control
DLL– Dynamic Link Library
DMA – Direct Memory Access
DML – Data Manipulation Language
DMTF – Distributed Management Test Force
DNA – Distributed Internet Architecture
DNS – Domain Name System
DOM – Document Object Model
DOS – Disk Operating System, Denial Of Service
DPI – Dots Per Inch
DRAM – Dynamic Random Access Memory
DSL – Digital Subscriber Line
DSN – Digital Subscriber Network
DTD – Document Type Definition
DVD – Digital Versatile Disc

E

E – Electronic
EAROM – Electrically Alterable Read Only Memory
EBCDIC – Extended Binary Coded Decimal Interchange Code
EDC – Electronic Digital Computer
EDCDIC – Extended Binary Coded Decimal Interchange Code
EEPROM – Electrically Erasable Programmable Read Only Memory
EFS – Encrypted File System
EJB – Enterprise Java Beans
ENIAC – Electronics Numerical Integrator and Calculator
EPROM – Erasable Programmable Read Only Memory
EROM – Erasable Read Only Memory
ERP – Enterprise Resource Planning
EULA – End User License Agreement

F

FAT – File Allocation Table
FDD – Floppy Disk Drive
FDDI – Fiber Distributed Data Interface
FDMA – Frequency Division Multiple Access
FIFO – First In First Out
FLOPS – Floating Point Operations Per Second
FO – Fiber Optics
FORTRAN – Formula Translation
FPS – Frames Per Second
FRAM – Ferro–electric Random Access Memory
FTP – File Transfer Protocol

G

GB – Giga Bytes
GIF – Graphic Interchange Format
GIGO – Garbage In Garbage Out
GML – General Markup Language
GNU – GNU's Not Unix
GPL – General Public License
GUI – Graphical User Interface

H

HDD – Hard Disk Drive
HFS – Hierarchical File System
HP – Hewlett Packard
HPC – High Performance Computing
HPFS – High Performance File System
HSR – Horizontal Scan Rate
HTML – Hyper Text Markup Language
HTTP – Hyper Text Transfer Protocol

I

IBM – International Business Machines
IC – Integrated Circuit
ICMP – Internet Control Message Protocol
ICS – Reduce Instruction Set Computer
ICT – Information and Communication Technology
IDE – Integrated Development Environment
IE – Internet Explorer
IGMP – Internet Group Management Protocol
IIS – Internet Information Server
IL – Intermediate Language
IO – Input Output
IOP – Input Output Processor
IP – Internet Protocol
IPX – Internetworked Packet Exchange
IRAM – Integration Ram
IRC – Internet Relay Chat
IrDA – Infrared Data Association
IRQ – Interrupt Request
ISAPI – Internet Server Application Program Interface
ISDN – Integrated Services Digital Network
ISO – International Standard Organization
ISP – Internet Service Provider
ISR – Interrupt Service Routine
IT – Information Technology
ITPL – Information Technology Park Limited (India)

J

JCL – Job Control Language
JDBC – Java Data Base Connectivity
JHTML – Java within Hyper Text Markup Language
JPEG – Joint Photographic Experts Group
JSP – Java Server Pages

K

KB – Kilo Bytes
KBPS – Kilo Bytes Per Second

L 

L2TP – Layer Two Tunneling Protocol
LAN – Local Area Network
LCD – Liquid Crystal Display
LDAP – Light Weight Directory Access Control
LIFO – Last In First Out
LIPS – Logical Interfaces Per Second
LOC – Lines Of Code
LSI – Large Scale Integration
LSP – Layered Service Provider

M

MAC – Media Access Control
MAN – Metropolitan Area Network 
MAU – Multi–station Access Unit
MB – Mega Bytes
MBONE – Multicast Backbone
MBPS – Mega Bytes Per Second
MBR – Master Boot Record
MCP – Microsoft Certified Professional
MCS – Multicast Server
MCSA – Microsoft® Certified Systems Administrator
MCSD – Microsoft® Certified Solution Developer 
MCSE – Microsoft® Certified System Engineer
MDI – Multiple Document Interface
MDS– Microcomputer Development System
MFC – Microsoft Foundation Classes
MFT – Master File Table
MG – Mega Bytes
MICR – MagneticInk Characters Reader
MIDI – Musical Instrument Digital Interface
MIMD – Multiple Instruction Multiple Data
MIME – Multipurpose Internet Mail Extensions
MIPS – Millions of Instructions Per Second
MISD – Multiple Instruction Single Data
MODEM – Modulator and Demodulator
MP3 – Motion Pictures Experts Group Layer – 3
MPEG – Motion Pictures Experts Group
MS – MicroSoft
MSDN – MicroSoft Developer Network
MSIIS – Microsoft Internet Information Server
MSIL – Microsoft Intermediate Language
MSMQ – Microsoft Message Queue
MSN – MicroSoft Network
MSRAP – Microsoft Remote Administration Protocol
MSRPC – Microsoft Remote Procedure Call
MTS – Microsoft Transaction Server
MTU – Maximum Transmission Unit
MUDS – MultiUser Dungeons

N

NAS – Network Attached Storage
NASSCOM – National Association of Software and Service Companies
NCP – Network Control Protocol
NDIS – Network Driver Interface Specification
NDRO – Nondestructive Read Out
NetBEUI – NetBIOS Enhanced User Interface
NIC – National Informatics Centre, 
NIIT – National Institute of Information Technology
NNTP – Network News Transfer Protocol
NOW – Network Of Workstations
NSFNET – National Science Foundation Network
NT (Windows) – New Technology
NTFS – New Technology File System
NTP – Network Time Protocol

O

OCP – Oracle Certified Professional
OCR – Optical Character Readers
ODBC – Open Data Base Connectivity
OLE – Object Linking and Embedding
OMR – Optical Mark Reader
ONE – Open Network Architecture
OOA – Object Orient Analysis
OOAD – Object Oriented Analysis and Design
OOP – Object Oriented Programming
OOPS – Object Oriented Programming System
OPEN GL – Open Graphics Library
OS – Operating System
OSI – Open System Interconnection

P

PC – Personal Computer
PCI – Peripheral Component Interconnect
PCMCIA – Personal Computer Memory Card International Association
PDA – Personal Digital Assistant
PDF – Portable Document Format
PDL – Page Description Language
PDU – Protocol Data Unit
PHP – PHP Hypertext Processor
PIC – Programming Interrupt Control
PILOT – Programmed Inquiry Learning Or Teaching
PLA – Programmable Logic Array
PLC – Programmable Logic Controller
PNG – Portable Network Graphics
PNP – Plug And Play
POP – Post Office Protocol
POST – Power On Self Test
PPP – Peer to Peer Protocol
PPTP – Point To Point Tunneling Protocol
PROM – Programmable Read Only Memory
PS – Post Script
PSN – Processor Serial Number

Q 

QoS – Quality of Service

R

RADSL – RateAdaptive Digital Subscribes Line
RAID – Redundant Array of Independent Disks
RAM – Random Access Memory
RAMDAC – Random Access Memory Digital to Analog Converter
RAS – Remote Access Network
RD RAM – Rambus Dynamic Random Access Memory
R-DAT – Rotating Digital Audio Tape
RDBMS – Relational Data Base Management System
RDO – Remote Data Objects
RDP – Remote Desktop Protocol
RFC – Request for Comments
RGB – Red Green Blue
RICS – Reduced Instruction Set Computer
RIP – Raster Image Processor
RISC – Reduced Instruction Set Computer
ROM – Read Only Memory
RPC – Remote Procedure Call
RTC – Real Time Clock
RTF – Rich Text Format
RTOS – Real Time Operating System

S 

S-DAT – Stationary Digital Audio Tape
SACK – Selective Acknowledgements
SAM – Security Access Manager
SAP – Service Access Point, Systems Applications Products
SCMP – Software Configuration Management Plan
SCSI – Small Computers Systems Interface
SD RAM – Synchronous Dynamic Random Access Memory
SDD – Software Design Description
SDK – Software Development Kit
SDL – Storage Definition Language
SDN – Integrated Service Digital Network
SDRAM – Static Dynamic Random Access Memory
SDSL – Symmetric Digital Subscribes Line
SG RAM – Synchronous Graphics Random Access Memory
SGML – Standard Generalized Markup Language
SIM – Subscriber Identification Module
SIMD – Single Instruction Multiple Data
SISD – Single Instruction Single Data
SIU – Serial Interface Unit
SMP – Symmetric Multi Process
SMS – Short Message Service
SMTP – Simple Mail Transfer Protocol
SNA – System Network Architecture
SNAP – Sub Network Access Protocol
SNMP – Simple Network Management Protocol
SNOBOL – String Oriented Symbolic Language
SOAP – Simple Object Access Protocol
SPX – Sequenced Packet Exchange
SQA – Statistical Quality Assurance
SQL – Structured Query Language
SRAM – Static Random Access Memory
SRS – Software Requirements Specification
STP – Shielded Twisted Pair
SVVP – Software Verification and Validation Plan
SW – Software

T

TAPI – Telephony Application Program Interface
TB – Tera Bytes
TCP – Transmission Control Protocol
TCP/IP – Transmission Control Protocol / Internet Protocol
TDI – Transport Data Interface
TDMA – Time Division Multiple Access
TPM – Transactions Processing Monitor
TSR – Terminate and Stay Residents

U

UDD – User Datagram Protocol
UDP – User Datagram Protocol
UI – User Interface
UML – Unified Modelling Language
UNC – Universal Naming Convention
UNIX – Uniplexed Information and Computer Systems
URL – Universal Resource Locator
USB – Universal Serial Bus
USRT– Universal Synchronous Receiver Transmitted
UTP – Unshielded Twisted Pair

V

VAN – Virtual Area Network
VAST– Very Small Aperture Terminal
VB – Visual Basic
VC++ – Visual C++
VCD – Video Compact Disc
VDL – View Definition Language
VGA – Video Graphics Array
VHS – Video Home System
VLIW – Very Long Instruction Words
VLSI – Very Large Scale Integrated Circuits
VPN – Virtual Private Network
VRAM – Video Random Access Memory
VRML – Virtual Reality Modelling Language
VS – Visual Studio
VSNL – Videsh Sanchar Nigam Limited
VVR – Software Validation and Validation Report
VXD – Virtual Device Driver

W

W3C – World Wide Web Consortium
WAIS – Wide Area Information Servers
WAN – Wide Area Network
WAP – Wireless Application Protocol
WBEM – Web Base Enterprise Management
WDM – Wave Division Multiplexing
WHQL – Windows Hardware Quality Lab
Windows ME – Windows Millennium Edition
Windows NT – Windows New Technology
Windows XP – Windows eXPerienced
WINS – Windows Internet Name Services
WMI – Windows Management Instrumentation
WML – Wireless Markup Language
WORM – Write Once Read Many
WSH – Windows Script Host
WWW – World Wide Web
WYSIWYG – What You See Is What You Get

X 

XHTML – eXtensible Hyper Text Markup Language
XML – eXtensible Markup Language
XSL – eXtensible Style Sheet language

Y

Y2K – Year 2000

Z

ZIF – Zero Insertion Force

Best Famous English Acronyms & Abbreviations

Best Famous English Acronyms & Abbreviations

A

A.A.F. – Auxiliary Air Force
A.A.O.U. – Asian Association of Open Universities
A.C.D. – Asian Co-operation Dialogue
A.D.B. – Asian Development Bank
A.D.S. – Air Defence Ship
A.E.C. – Atomic Energy Commission
A.H.Q. – Air Head Quarters; Army Head Quarters
A.I.C.C. – All India Congress Committee
A.I.D.S. – Acquired Immune Deficiency Syndrome
A.I.R. – Annual Information Report
A.J.T. – Advanced Jet Trainer
A.N.C. – African National Council
A.P.E.C. Asia-Pacific Economic Corporation
A.P.E.D.A. – Agricultural and Processed Food Products Export Development Authority
A.R.C. – Administrative Reforms Commission; Asset Reconstruction Corporation (of India)
A.S.E.A.N. – Association of South East Asian Nations
A.S.I. – Archaeological Survey of India
A.U. – African Union
A.V.E.S. – Acute Viral Encephalitic Syndrome

B

B.A.R.C. – Bhabha Atomic Research Centre
B.C.G. – Bacillus Calmette Guerin (Anti-T.B. vaccine)
BIMSTEC – Bangladesh, India, Myanmar, Sri Lanka, Thailand Economic Corporation
B.S.N.L. – Bharat Sanchar Nigam Ltd.
B.O.A.C. – British Overseas Airways Corporation
B.R.E.A.D. – Basic Research Education and Development Society
B.V.R. – Beyond Visual Range

C

C.A.B.E. – Central Advisory Board of Education
C.A.C.C.I. – Confederation of Asia-Pacific Chambers of Commerce and Industry
C.M.P. – Common Minimum Programme
C.A.D.P. – Command Area Development Programme
C.A.S. – Conditional Access System
C.C.I. – Cricket Club of India
C.D.M.A. – Code Division Multiple Access
C.H.O.G.M. – Commonwealth Heads of Government Meeting
C.I.A. – Central Intelligence Agency (U.S.A.)
C.N.G. – Compressed Natural Gas
C.N.L.U. – Chanakya National Law University
C.N.P.C. – China National Petroleum Corporation
C.S.I.R. – Council of Scientific and Industrial Research
C.S.T.O. – Collective Security Treaty Organisation

D

D.A.E. – Department of Atomic Energy
D.D.T. – Dichloro Diphenyl Trichloro-ethane
D.I.A.S. – Direct Internet Access System
D.M.R.C. – Delhi Metro Rail Corporation
D.O.A.R.T. – Deep Ocean Assessment and Reporting Technology
D.P.P. – Dabhol Power Project
D.Litt. – Doctor of Literature
D.V.C. – Damodar Valley Corporation

E

E.A.S. – East Asia Summit
E.C.I.L. – Electronics Corporation of India Limited
E.D.C.I.L. – Educational Consultants India Ltd.
E.D.I. – Educational Development Index
EDUSAT – Education Satellite
E.E.C. – Eurasian Economic Community; European Economic Community
E.E.T. – Exempt, Exempt, Taxable
E.P.I.C. – Elector’s Photo Identity Card
E.S.C.A.P. – Economic and Social Commission for Asia and the Pacific (This is the new name of ECAFE)

F

F.D.I. – Foreign Direct Investment
F.E.M.A. – Foreign Exchange Management Act.
F.I.C.A. – Federation of International Cricketer’s Association
F.T.A. – Free Trade Agreement

G

G.A.T.T. – General Agreement on Tariffs and Trade
G.D.P. – Gross Domestic Product
G.I.C. – General Insurance Corporation (of India)
G.I.S.T. – Global Institute of Science and Technology
G.N.P. – Gross National Product
G.U.A.M. – Georgia, Ukraine, Azerbaijan and Moldova

H

H.D.F.C. – Housing Development Finance Corporation
H.U.D.C.O. – Housing and Urban Development Corporation

I

 
I.A.A.I. – International Airport Authority of India
I.B.S.A. – India, Brazil, South Africa
I.C.R.I.E.R. – Indian Council for Research on International Economic Relations
I.C.S.I.D. – International Centre for Settlement of Industrial Disputes
I.C.R.C. – International Committee of the Red Cross
I.C.S.S.R. – Indian Council of Scientific and Social Research
I.D.P.L. – Indian Drugs and Pharmaceuticals Limited
I.F.P.R.I. – International Food Policy Research Institute (Located in Washington)
I.F.W.J. – Indian Federation of Working Journalists
I.C.A.R. – Indian Council of Agricultural Research
I.D.A. – International Development Association
I.G.C.A.R. – Indira Gandhi Centre for Atomic Research
I.G.M.D.P. – Integrated Guided Missile Development Programme
I.G.N.C.A. – Indira Gandhi National Centre for Arts
I.I.F.A. – International Indian Film Academy
I.M.D.T. – Illegal Migrants (Determination by Tribunals) Act, 1983
I.M.F. – International Monetary Fund
I.M.O. – Instant Money Order
I.N.S. – Indian News Paper Society
INSDOC – Indian National Scientific Documentation Centre
I.N.T.U.C. – Indian National Trade Union Congress
I.N.T.A.C.H. – Indian National Trust for Art and Cultural Heritage
I.N.X.F.A.C. – Indian Naval Extra-Fast Attact Craft
I.S.I. – Inter Services Intelligence (Pakistan)
I.S.T. – Indian Standards Time
I.S.R.O. – Indian Space Research Organisation
I.S.S.P. – Indian Scientific Satellite Project
I.T.E.R. – International Thermonuclear Experimental Reactor
I.T.E.S. – Information Technology Enabled Services
I.U.C.N. – International Union for Conservation of Nature
I.U.P.E.P. – Integrated Urban Poverty Eradication Programme

J

J.V.P. – Janatha Vimukthi Peramuna

L

L.I.B.O.R. – London Inter Bank Offered Rate

M

M.A.I. – Multilateral Agreement on Investment
M.C.C. – Marylebone Cricket Club
M.D.M.A. – Multi Disciplinary Monitoring Agency
M.F.A.L.A. – Marginal Farmers and Agricultural Labourers Agency
M.N.N.A. – Major Non-NATO Alley
M.R.T.P.C. – Monopolies and Restrictive Trade Practices Commission

N

N.A.D.T. – National Authority on Drugs and Therapeutics
N.A.R.I. – National AIDS Research Institute
NATO – North Atlantic Treaty Organisation
N.B.R.A. – National Biotechnology Regulatory Authority
N.C.H.R.H. – National Council for Human Resource in Health.
N.C.A. – National Cricket Academy
N.E.A. – National Environment Authority
N.E.G.P. National E-governance Plan
N.I.F. – National Innovative Foundation
N.I.S.M. – National Institute of Securities Market
N.L.L.M. – National Legal Literacy Mission
N.M.C.C. – National Manufacturing Competitiveness Council
N.M.I.T.L.I. – New Millennium Indian Technology Leadership Initiative
N.P.T. – Nuclear Non-Proliferation Treaty
N.R.C. – Nuclear Regulatory Commission
N.R.E.G.A. – National Rural Employment Guarantee Act.
N.R.H.M. – National Rural Health Mission
N.R.I. – Non-Resident Indians
N.R.S.A. – National Remote Sensing Agency
N.S.C.N. – National Social Council of Nagaland
N.U.E.P.A. – National University of Educational Planning and Administration

O

O.I.C. – Overseas Indian Citizenship
O.I.G.S. – On Indian Government Service
OIL – Oil India Limited
O.N.G.C. – Oil and Natural Gas Corporation

P

P.A.C. – Public Accounts Committee; Professional Aptitude Council
P.A.N. – Permanent Account Number
P.E.S.O. – Petroleum and Explosives Safety Organisation (PESO is the changed name of Department of Explosives).
P.E.T.A. – People for the Ethical Treatment of Animals
P.F.R.D.A. – Pension Fund Regulatory and Development Authority
P.H.D.C.C.I. – Progress, Harmony and Development Chambers of Commerce and Industry
P.I.L. – Public Interest Litigation
P.N.R. – Passenger Numerical Record
P.O.S.C.O. – Pohang Steel Company
P.O.T.A. – Prevention of Terrorism Act
P.T.C. – Power Trading Corporation

Q

Q.I.P. – Qualified Institutional Placement

R

R.A.F. – Rapid Action Force
R.S.V.P. – Repondez sil vous Plait (Fr.) reply, if you please
R.T.R.A. – Rail Tariff Regulatory Authority

S

SAIL – Steel Authority of India Limited
SAPTA – South Asian Preferential Trade Agreement
S.C.O. – Shanghai Cooperation Organisation
S.C.R.A.M.J.E.T. – Supersonic Combustion Ramjet
S.E.W.A. – Self-Employed Women’s Association
S.G.R.Y. – Sampoorna Grameen Rojgar Yojana
S.G.S.Y. – Swarnjayanti Gram Swarozgar Yojana
S.M.S. – Short Message Service; Subscriber Management System
SNIPES – Society for the National Institutes of Physical Education and Sports
S.W.A.P.O. – South-West African People’s Organization

T

TELCO – Tata Engineering and Locomotive Company
T.E.R.C. – Trade and Economic Relations Committee
T.E.R.L.S. – Thumba Equatorial Rocket Launching Station
T.R.A. – Tea Research Association
T.R.A.I. – Telecom Regulatory Authority of India
TWAS – Third World Academy of Sciences

U

U.D.C. – University Development Commission
U.N.C.L.O.S. – UN Convention on the Law of the Sea
U.N.C.T.A.D. – United Nations Conference of Trade and Development
U.G.C. – University Grants Commission
U.N.E.S.C.O. – United Nations Educational Scientific and Cultural Organisation
U.N.F.C.C.C. – United Nations Framework Convention on Climate Change
U.N.I.C.E.F. – United Nations International Children’s Emergency Fund
U.N.I.F.I.L. – United Nations Interim Force in Lebanon
U.P.A. – United Progressive Alliance

V

V.B.A.L. – Value Based Advanced Licencing
V.D.I.S. – Voluntary Disclosure of Income Scheme
V.S.S.C. – Vikram Sarabhai Space Centre
V.A.T. – Value Added Tax

W

W.C.C.B. – Wildlife Crime Control Bureau
W.C.A.R. – World Conference Against Racism
W.E.F. – World Environment Forum
W.G.I.G. – Working Group on Internet Governance
W.F.C. – World Food Council
W.I.P.O. – World Intellectual Property Organisation
W.L.L.–M. – Mobile Wireless in Local Loop
W.S.I.S. – World Summit on Information Society
W.T.O. – World Trade Organisation
W.W.F. – World Wild Life Fund; War Wounded Foundation

Y

Y.M.C.A. – Young Men’s Christian Association
Y.W.C.A. – Young Women’s Christian Association

Z

Z.S. – Zoological Society

Common Glossary Related to Budget

Common Glossary Related to Budget

Union Budget

Under Article 112 of the constitution, a statement of estimated receipts and expenditure, called the ‘Annual Financial Statement’, has to be placed before Parliament for each financial year.

This Statement is the main budget document. It is an estimate of the Government’s revenue and expenditure at the end of a fiscal year, which runs from April 1 to March 31.

A Union Budget is the most comprehensive report of the Government’s finances, in which revenues from all sources and outlays to all activities are consolidated. The budget also contains estimates of the Government’s accounts for the next fiscal, called budgeted

estimates.

Capital Budget

The capital budget consists of capital receipts and payments. Capital receipts are Government loans raised from the public, Government borrowings from the Reserve Bank and treasury bills, divestment of equity holding in public sector enterprises, loans received from foreign Governments and bodies, securities against small savings, State provident funds, and special deposits.

Capital payments refer to capital expenditures on construction of capital projects and acquisition of assets like land, buildings machinery and equipment.

It also includes investments in shares, and loans and advances granted by the Central Government to State Governments, Government companies, corporations and other parties.

Revenue Budget

The revenue budget consists of revenue receipts of the Government and its expenditure. Revenue receipts are divided into tax and non-tax revenue. Tax revenues constitute taxes like income tax, corporate tax, excise, customs, service and other duties that the Government levies.

The non-tax revenue sources include interest on loans, dividend on investments etc.

Revenue expenditure is the expenditure incurred on the day-to-day running of the Government and its various departments, and for services that it provides.

It also includes interest on its borrowings, subsidies and grants given to State Governments and other parties.

This expenditure does not result in the creation of assets. In case the difference between revenue receipts and revenue expenditure is negative, there is a revenue deficit.

It shows the shortfall of the Government’s current receipts over current expenditure. If the capital expenditure and capital receipts are taken into account too, there will be a gap between the receipts and expenditure in a year. This gap constitutes the overall budgetary deficit, and it is covered by issuing 91-day Treasury Bills, mostly held by the Reserve Bank.

Revenue surplus is the excess of revenue receipts over revenue expenditure.

Fiscal Deficit

This is the gap between the Government’s total spending and the sum of its revenue receipts and non-debt capital receipts.

It represents the total amount of borrowed funds required by the Government to completely meet its expenditure. The gap is bridged through additional borrowing from the Reserve Bank of India, issuing Government securities etc. Fiscal deficit is one of the major contributors to inflation.

Primary Deficit

The primary deficit is the fiscal deficit minus interest payments. It tells how much of the Government’s borrowings are going towards meeting expenses other than interest payments.

Finance Bill

The Government proposals for the levy of new taxes, alterations in the present tax structure, or continuance of the current tax structure are placed before the Parliament in this bill. The bill contains amendments proposed to direct and indirect taxes.

Direct and Indirect Taxes

Direct taxes are levied on the incomes of individuals and corporates. For example, income tax, corporate tax etc. Indirect taxes are paid by consumers when they buy goods and services. These include excise duty, customs duty etc.

Some Other Terms 

Central  plan outlay : 

It refers to the allocation of monetary resources among the different sectors in the economy and the ministries of the Government.

Public account :

 The Government acts like a banker for transactions relating to provident funds, small savings collection etc.

The funds that the Government thus receives from its bank like operations are kept in the public account, from which the related disbursements are made.

These funds do not belong to the Government and have to be paid back to the persons and authorities who have deposited them.

Ad-valorem duties : 

These are the duties determined as a certain percentage of the price of products.

Balance of payments : Balance of payments is the difference between the demand for, and supply of, a country’s currency on the foreign exchange market.

Budget estimates : It is an estimate of fiscal and revenue deficits for the year. The term is associated with the estimates of the Centre’s spending during the financial year and the income received through taxes.

Capital receipt : 

Loans raised by the Centre from the market. Government borrowings from the Reserve Bank and other parties, sale of Treasury Bills, and loans received from foreign governments form a part of capital receipt.

Other items that also fall under this category include recovery of loans granted by the Centre to State Governments and proceeds from disinvestments of Government stake in public sector undertakings.

Consolidated fund :

 Under this, the Government pools all its funds together.

It includes all Government revenues, loans raised, and recoveries of loans granted.

All expenditure of the Government is incurred from the consolidated fund and no amount can be withdrawn from the fund without authorisation of the Parliament.

Contingency fund : 

This is a fund used for meeting emergencies where the Government cannot wait for an authorisation of the Parliament. The Government subsequently obtains Parliamentary approval for the expenditure. The amount spent from the contingency fund is returned to the fund later.

Monetary policy : 

This comprises actions taken by the central bank to regulate the level of money or liquidity in the economy, or change the interest rates.