With reference to Union Budget, consider the following statements: 1. The Union Finance Minister on behalf of the Prime Minister lays the Annual Financial Statement before both the Houses of Parliament. 2. At the Union level, no demand for a grant can be

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Q: 45 (IAS/2024)
With reference to Union Budget, consider the following statements:
1. The Union Finance Minister on behalf of the Prime Minister lays the Annual Financial Statement before both the Houses of Parliament.
2. At the Union level, no demand for a grant can be made except on the recommendation of the President of India.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

question_subject: 

Economics

question_exam: 

IAS

The first statement is incorrect. The Union Finance Minister lays the Annual Financial Statement before both Houses of Parliament, but it is not done on behalf of the Prime Minister. The second statement is correct. At the Union level, no demand for a grant can be made except on the recommendation of the President of India, as per the constitutional provisions.