Question
Download Solution PDFUnder which Article of the Indian Constitution the Annual Financial Statement (Budget) is necessary to be laid before the Parliament?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is option 3.
Key Points
- Article 112 of the Indian Constitution mandates that the Annual Financial Statement (Budget) must be laid before the Parliament. This is often referred to as the Union Budget. Hence, option 3 is correct.
- The Annual Financial Statement is a comprehensive statement of the government’s proposed receipts and expenditures for a financial year, and it forms the basis of financial planning and budget allocation in India.
- The other articles mentioned are related to:
- Article 111: Deals with the President's approval for bills and money bills.
- Article 113: Deals with the procedure for the introduction of the money bill in the Lok Sabha.
- Article 114: Deals with the procedure for the passing of the appropriation bill.
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