Whose duty is it to cause to be laid before the Parliament the Annual Financial Statement (popularly known as Budget)?

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Submitted by examrobotsa on

Q: 60 (IES/2011)
Whose duty is it to cause to be laid before the Parliament the Annual Financial Statement (popularly known as Budget)?

question_subject: 

Polity

question_exam: 

IES

stats: 

0,84,50,84,7,40,3

keywords: 

{'prime minister': [6, 3, 0, 4], 'parliamentary affairs': [1, 0, 0, 0], 'parliament': [15, 1, 3, 8], 'annual financial statement': [0, 0, 0, 1], 'union minister': [0, 0, 8, 4], 'finance': [5, 2, 5, 15], 'president': [4, 0, 2, 1], 'budget': [3, 1, 4, 10], 'duty': [3, 0, 1, 7], 'india': [8, 1, 7, 13]}

The correct answer is option 1: The President of India.

The Annual Financial Statement, commonly referred to as the Budget, is a crucial document that outlines the government`s expenditure and revenue for the upcoming financial year. It is a statement of the estimated receipts and expenditure of the government.

According to Article 112 of the Indian Constitution, the President is responsible for laying the Annual Financial Statement before the Parliament. This task is usually performed by the President on the advice of the Union Council of Ministers, specifically the Union Minister of Finance.

Therefore, while the Prime Minister and the Union Minister of Finance play significant roles in the budget-making process, including the preparation and presentation of the budget, it is ultimately the duty of the President to present the Annual Financial Statement before the Parliament.

Alert - correct answer should be option 3: The Union Minister of Finance.