Synopsis In the post-liberalisation environment, the subject of budgetary control has become far more complex than what it was in the last century. Now-a-days, budgetary control is one of the most vital and critical areas of business management. The contents of budgetary control are also changing at a rapid pace and quantitative techniques are also incorporated in it's field which have shifted emphasis from the episodic cost control to the total cost control and cost reduction.