Budget Optimization and Allocation: An Evolutionary Computing Based Model E-Book
Sudip Kumar Sahana
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- Herausgeber: Bentham Science Publishers
- Kategorie: Wissenschaft und neue Technologien
- Sprache: Englisch
Budget Optimization and Allocation: An Evolutionary Computing Based Model is a guide for computer programmers for writing algorithms for efficient and effective budgeting. It provides a balance of theory and practice.
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Seitenzahl: 139
Veröffentlichungsjahr: 2018
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FOREWORD
The book titled “Budget Optimization and Allocation: An Evolutionary Computing Based Model” caters to a critical need in today’s intellectual landscape, viz., the problem of budget optimization and distribution and its solution. The material covered in the book is an excellent balance of theory and practice. The techniques discussed the attempt to synergise evolutionary computation (mainly genetic algorithm) with traditional approaches to budget allocation like optimal allocation, equal allocation, etc.
The attractiveness of the book comes from the fact that it takes as a case study the complex and vast problem of union budget of India. The macro and micro issues discussed with attention to details, with the growth rate being the final aim of the budget exercise. The second attractive aspect is that the authors compare and contrast the budget allocation practices of different countries, consistent with country’s economy, culture, population, etc. The final attractiveness is the use of very modern methodologies like evolutionary computation to tackle incremental budgeting.
This book will be found useful by graduate students in their research. I congratulate the authors on taking up a very timely and relevant problem.
PREFACE
This book builds up an innovative framework for budget optimization and allocation using Evolutionary Computing (Genetic Algorithm) in addition to conventional techniques (OCBA, EA) to get synergy from each technique.
Budget allocation plays a significant role in the planning, managing and controlling aspects of developmental processes of any given setup. Funds generated from revenue and taxes, funds collected from different agencies are essential conditions for economic growth in any country. For overall growth of a country, it is required to analyze the gain or output of the budgeting and line up the proper budgeting system. This book concentrates on the issues of good budgeting and a design a framework for proper budgeting. The chapters of the book divided into four parts:
Chapter 1 gives the introduction about the budget and its importance and challenges of budget allocation in the national and global economy. The author explains the pros and cons of budget allocation.
Chapter 2 deals with the various traditional approaches for budget allocation. Moreover, a subsequent number of researchers performed by different researchers on this topic. In depth, literature has been presented in this chapter to make a foundation for creating a research methodology on this subject.
Chapter 3 presents the proposed methodology and models for allocation and optimization. Here, Growth Rate is displayed as a parameter for allocation, explaining how evolutionary computing technology is used for optimization in this chapter.
Chapter 4 highlights the results and discussions of the different test cases of proposed budget optimization technique and allocation of the budget applied to the different schemes in the secondary education system in the MHRD department as a case study. The output of budget allocation is drawn and compared to the current budget technique.
This book is research oriented and side by side, it has practical implementation details of the research theme. Textbooks and reference books are available in the market, but that discusses only standard theories. This book is specialized and has a credit to give new ideas and implementation details in this field.
DEDICATION
In the loving memory of my Grand Mother Late Smt. Prabhawati Devi
This book dedicated to my Grand Father Shri. Kanhai Prasad Sinha
And to my lovely family members Mom and Dad and special thanks to my uncles
Mr. Mohan Prasad Sinha
And
Mr. Sachindra Kumar Verma
Thanks to my Special friend which has always motivated me Ms. Shweta Kumari
And Special thanks to my Guide Mr. Sudip Kumar Sahana for his support and guidance,
with which I could have never completed this book.
“If you want, then you can do it.”
SUMMARY
In daily life, the most frequently encountered problem is how to estimate expenditure. For estimation, budgeting is the best tool for determining a plan to spend money. This expense on the project is called a budget Allocation. Budget Allocation holds the planning of actual operations by handling concern problems before they arise for any private aided, government or non-government supported sectors. So, without budget allocation expenditure limits exceeded the revenue and it caused financial shortfalls. Budget information supports the planning, managing, and controlling aspects of developmental processes of any given setups. There are several conventional budget allocation and optimization techniques such as Ranking and Selection (R&S), Incremental Budgeting, Zero-Based Budgeting, Ordinary Least Square (OLS), Two-Stage Least Squares (2SLS) and Pareto Efficiency or Pareto Optimality, etc. But for the large-scale budgeting problem, the efficiency of conventional optimization techniques degrades. Nowadays, western countries such as USA, New Zealand, Australia, the Netherlands, Great Britain, Sweden, France, and Germany started to implement the model of Result-Oriented Budget. The concept of Result-Oriented Budgeting (ROB) is to interrelate the decisions on expenditures with the expected return of the expenses, their effectiveness, and efficiency. Concepts of the Result-Oriented Budgeting (ROB) based on the idea of the Program-Targeted Planning developed in the 1960–1970s in the USSR and the Planning-Programming-Budgeting System (PPBS) formulated in the USA in the late 1950s–early 1960s.But still, ROB has not achieved its objectives technically. Also, a lot of challenges such as policy decisions, economic crisis, inflation, public relation with neighbor countries, etc. have been forced to cope up with the global economy. The Chinese use the zero- based budgeting and integrated fiscal budgeting technique which is not an efficient at all. In India, there is no such protocol for budgeting policy, but uses an incremental budgeting system which lacks outcome-based approach. Finally, for all countries, specially developed and developing countries budget allocation is one of the main important concern for their growth. So, to overcome this problem, we would like to propose an Evolutionary Computing technique for budget optimization using Optimal Computing Budget Allocation Technique (OCBA), Equal Allocation (EA), and Genetic Algorithm (GA). Out of three, the two techniques were chosen for budget allocation by averaging their results which are near to the Growth Rate. The optimized budget for different schemes are allocated using ranking and selection process containing (i) 50 percent of amount using equal allocation (ii) 30 percent of a sum, according to efficiency measured from reports available from the previous year and (iii) 20 percent the fund according to the priority. The budget allocation for a department containing some schemes obtained by the cumulative sum of all projects under that department. A state or country provides some fixed number of agencies. Thus, the budget allocation for the state/country can be achieved using our proposed technique.
Keywords
Equal Allocation (EA), Genetic Algorithm (GA), Growth Rate, Optimal Computing Budget Allocation (OCBA).
Introduction
Keshav Sinha,Moumita Khowas,Sudip Kumar SahanaAbstract
This chapter deals with the different budget allocation techniques used by various nations and particularly the Republic of India. Different countries used different methods of funds distributed among their several sectors. To allocate money in the budget different countries pay heed over Defense, Education, and Health Care. They provide a considerable sum of money to these three areas. Except this government employs relatively little amounts of funds in other departments. For budget allocation governments of different countries use different methods like Ranking & Selection, Incremental Budget, and Pareto Optimal. The government aims for overall better development in all aspects. The objective of this chapter is to put forward different budget allocation techniques in front of readers so that one can understand the pros and cons of a particular method and can able to use a technique for a complete budgeting problem.
A budget is a fiscal plan which is used to estimate the revenues and expenditures for a period or time. It is just a planning tool for management [1, 2] and it assists in the allocation of resources. There are several traditional approaches for budget allocation schemes such as Ranking and Selection (R&S), Pareto Optimal, and Incremental budgeting, etc. Since past several years, the government used the Incremental budgeting technique where government adds a certain amount of capital to the previous year budget to allow a little increment in the budget. One of the biggest problems with this type of budgeting system is that it often leads the departments/ministries to spend more money without any result. Within this thesis, we use a modified version of the Incremental budgeting technique using OCBA and Genetic Algorithm for budget allocation.
