Cultural Budgeting Overhaul: A Path to Financial Stability

A parliamentary panel recommends a structured cultural calendar-based budgeting system for the Ministry of Culture, accounting for events like Kumbh Mela. This aims to enhance financial predictability and reduce reliance on mid-year budgetary adjustments. The inclusion of AI forecasting models is also proposed to optimize future cultural funding.

A parliamentary panel has urged the government to implement a cultural calendar-based budgeting system to cope with significant cyclical events like the Kumbh Mela. This proposal aims for better long-term financial planning by reducing the need for budgetary adjustments during the fiscal year.

The 'Demands for Grants (2025-26) of Ministry of Culture' report was recently presented in Parliament. It observed that the Ministry's current practice of heavy reliance on mid-year budget increases creates uncertainty in project execution and disrupts financial predictability. Therefore, a refined budget estimation process is essential.

The report emphasizes a partnership between the Ministry of Finance and Culture to develop a more needs-based budgetary framework. Suggested measures include establishing a CSR engagement cell, setting up a 'Budget Stabilisation Reserve,' and integrating AI-assisted forecasting models for resource prediction.

(With inputs from agencies.)