Which of the following are the methods of Parliamentary control over public finance in India? 1. Placing Annual Financial Statement before the Parliament. 2. Withdrawal of money from Consolidated Fund of India only after passing the Appropriation Bill. 3. Provisions of supplementary grants and vote-on accounts. 4. A periodic or at least a mid-year review of programme macroeconomic forecasts and expenditure by a Parliamentary Budget Office. 5. Introducing the Finance Bill in the Parliament. Select the correct answer using the codes given below:

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Correct answer: 1, 2, 3 and 5 only. Statement 1 is correct: Article 112 of the Indian Constitution deals with placing annual financial statements in Parliament. It outlines the estimated revenue and expenditure of the government for the upcoming financial year. It is a key tool for Parliament to examine, debate, and approve the government’s financial plans: Statement 2 is correct: Article 114 mandates that the government can withdraw money from the Consolidated Fund of India only after receiving approval from Parliament after passage of the Appropriation Bill. Statement 3 is correct: If the government needs extra funds, it requests supplementary grants via a Supplementary Appropriation Bill. A Vote-on-Account provides interim funds until the full budget is approved. It is passed (or granted) after the general discussion on budget is over. It is generally granted for two months for an amount equivalent to one-sixth of the total estimation. Polity 199 Statement 4 is incorrect: There is no such Parliamentary budget office to review programs of Government. The Estimate Committee of parli

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