CSEET · Economic and Business Environment · Indian Union Budget
Under the Constitution of India, which Article requires the President to cause an annual financial statement of estimated receipts and expenditure of the Government of India to be laid before Parliament for every financial year?
Article 112 of the Constitution requires the President to have the annual financial statement, known as the Union Budget, laid before Parliament each financial year. Other articles deal with different matters, such as Money Bills, the Funds of India, or the Finance Commission.
- AArticle 112Correct
- BArticle 110
- CArticle 266
- DArticle 280
Explanation
Article 112 requires the annual financial statement, popularly called the Union Budget, to be laid before both Houses for each financial year. Article 110 defines a Money Bill, Article 266 deals with the Consolidated and Public Accounts Funds, and Article 280 deals with the Finance Commission. Hence Article 112 is the correct one.
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