With reference to Union Budget, consider the following statements : 1. The Union Finance Minister on behalf of the Prime Minister, lays the Annual Financial Statement before both the Houses of Parliament. 2. At the Union level, no demand for a grant be made except on the recommendation of the President of India. Which of the statements given above is/are correct ?

Question

YESPYQ · Accepted Answer

Correct answer: 2 only. Statement 1 is incorrect: The President shall in respect of every financial year cause to be laid before both the Houses of Parliament a statement of estimated receipts and expenditure of the Government of India for that year. The Union Finance Minister on behalf of the President, lays the annual Financial Statement before both the houses of Parliament. Statement 2 is correct: As per Article 113(3) of the Constitution, no demand for a grant can be made except on the recommendation of the President. Note: UPSC has given option (c) as the official answer. The term ‘budget’ has nowhere been used in the Constitution. It is the popular name for the ‘annual financial statement’ that has been dealt with in Article 112 of the Constitution. The budget is a statement of the estimated receipts and expenditure of the Government of India in a financial year, which begins on 1 April and ends on 31 March of the following year. 145

Practice more Polity PYQs

More UPSC Polity PYQs