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Q24 (CDS-I/2014) Polity & Governance › Parliament › Budgetary process Parliament Answer Verified

The Annual Financial Statement of the Government of India in respect of each financial year shall be presented to the House on such day as the

Result
Your answer: —  Â·  Correct: B
Explanation

According to Article 112 of the Constitution of India, the President shall, in respect of every financial year, cause to be laid before both Houses of Parliament the 'Annual Financial Statement' [3]. While the Finance Minister typically presents the budget in the Lok Sabha and delivers the budget speech [4], the constitutional authority and mandate for its presentation rest with the President. Official parliamentary procedures explicitly state that the Budget is presented on such a day as the President directs. This is further supported by the Rajya Sabha's procedural manual, which confirms that the President causes the statement of estimated receipts and expenditure to be laid on the table of the House. Therefore, the timing and presentation of the Annual Financial Statement are formally under the direction of the President of India.

Sources

  1. [1] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 4: Government Budgeting > 4.1 Introduction > p. 146
  2. [2] Introduction to the Constitution of India, D. D. Basu (26th ed.). > Chapter 12: The Union Legislature > p. 257
  3. [3] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 4: Government Budgeting > 4.2 Budget Procedure > p. 148
  4. [4] https://cms.rajyasabha.nic.in/UploadedFiles/Procedure/RajyaSabhaAtWork/English/826-833/CHAPTER24.pdf
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