Which of the following is not a characteristic feature of performance budgeting?

Arrange the following chronological steps involved in the Execution stage of the Budget in their correct sequential order. I. The Comptroller and Auditor General of India audits the government accounts to ensure accountability. II. Departments maintain proper accounts and submit regular reports on their financial performance. III. The Ministry of Finance releases authorized funds and oversees budget execution. IV. Various government departments implement approved schemes and utilize the allocated funds.

Arrange the following logical, sequential steps of the Planning Programming Budgeting System (PPBS) in their correct chronological order: A. Formulating various alternative programs to achieve the identified goals B. Evaluating the formulated alternatives in terms of costs and benefits C. Allocating optimal resources based on the evaluation D. Identifying overarching government goals Choose the correct answer from the options given below: