Option 1 states that if the annual Union Budget is not passed by Lok Sabha, the President of India asks the Finance Minister to resign. This is incorrect. The President does not have the power to ask the Finance Minister to resign in this scenario. The President`s role in the passing of the Union Budget is mainly ceremonial, and they do not have the authority to dismiss a minister.

Option 2 states that if the annual Union Budget is not passed by Lok Sabha, the Prime Minister asks the Finance Minister to resign. This is also incorrect. While the Prime Minister holds significant influence and authority in the government, they cannot unilaterally ask a minister to resign in this situation.

Option 3 states that if the annual Union Budget is not passed by Lok Sabha, the Speaker of Lok Sabha asks the Finance Minister to modify it and present it again. This is also incorrect. The role of the Speaker of Lok Sabha is to maintain order during parliamentary sessions and ensure the smooth functioning of the House. They do not have the power to ask the Finance Minister to modify and present the budget again.

The correct answer is option 4. If the annual Union Budget is not passed by Lok Sabha, the Prime Minister submits the resignation of his cabinet. This is because the failure to pass the