With reference to the Union Government consider the following statements. 1. The Department of Revenue is responsible for the preparation of Union Budget that is presented to the parliament 2. No amount can be withdrawn from the Consolidated Fund of India

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Q: 10 (IAS/2015)
With reference to the Union Government consider the following statements.
1. The Department of Revenue is responsible for the preparation of Union Budget that is presented to the parliament
2. No amount can be withdrawn from the Consolidated Fund of India without the authorization of Parliament of India.
3. All the disbursements made from Public Account also need the Authorization from the Parliament of India
Which of the following statements given above is/are correct?

question_subject: 

Polity

question_exam: 

IAS

stats: 

0,183,155,44,69,183,42

keywords: 

{'union budget': [1, 0, 2, 2], 'union government': [2, 0, 2, 1], 'disbursements': [0, 0, 1, 1], 'consolidated fund': [1, 0, 0, 3], 'parliament': [15, 1, 3, 8], 'authorization': [0, 0, 0, 3], 'public account': [0, 0, 1, 2], 'revenue': [3, 2, 3, 11], 'department': [1, 0, 13, 12]}

The correct answer is "2 only."

Statement 1 is incorrect. The Department of Revenue is not responsible for the preparation of the Union Budget. The responsibility for preparing the Union Budget lies with the Ministry of Finance, specifically the Department of Economic Affairs and the Department of Expenditure.

Statement 2 is correct. No amount can be withdrawn from the Consolidated Fund of India without the authorization of Parliament of India. The Consolidated Fund of India is a fund created under Article 266 of the Constitution, and all revenues received by the government, as well as certain loans raised by it, are credited to this fund. Withdrawals from this fund can only be made through appropriations approved by Parliament.