Which one of the following is responsible for the preparation and presentation of Union Budget of the Parliament?

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Submitted by examrobotsa on

Q: 107 (IAS/2010)
Which one of the following is responsible for the preparation and presentation of Union Budget of the Parliament?

question_subject: 

Polity

question_exam: 

IAS

stats: 

0,252,79,26,252,40,13

keywords: 

{'union budget': [1, 0, 2, 2], 'parliament': [15, 1, 3, 8], 'department': [1, 0, 13, 12], 'expenditure': [2, 0, 2, 4], 'financial services': [0, 0, 2, 2], 'economic affairs': [2, 0, 2, 3], 'presentation': [1, 0, 1, 2], 'revenue': [3, 2, 3, 11], 'preparation': [3, 0, 4, 3]}

The correct answer is "Department of Economic Affairs".

I apologize for my previous response, which was incorrect. The Department of Economic Affairs (DEA), which is a part of the Ministry of Finance, is responsible for the preparation and presentation of the Union Budget to the Parliament. The DEA prepares the macroeconomic framework for the budget, which includes estimates of revenues and expenditures of the Government of India for the upcoming fiscal year.

The Department of Expenditure, on the other hand, is responsible for the preparation of the detailed estimates of the expenditure of the Government of India, based on the macroeconomic framework provided by the DEA.

The Department of Revenue is responsible for tax policy and administration, while the Department of Financial Services is responsible for matters related to banking, insurance, and financial sectors.