With reference to the Constitutional provisions with regard to the enactment of budget Parliament ca...........

Indian Governance and Polity(UPPCS) Union - Executive, Legisture

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With reference to the Constitutional provisions with regard to the enactment of budget, Parliament can

1. Reduce the tax

2. Abolish the tax

3. Increase the tax

Select the correct answer using the code given below:

1 and 2 only

2 and 3 only

1 and 3 only

1, 2 and 3

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Explanation:

Explanation:
The Constitution refers to the budget as the ‘annual financial statement’. In other words, the term ‘budget’ has nowhere been used in the Constitution. It is the popular name for the ‘annual financial Statement’ that has been dealt with in Article 112 of the Constitution. The budget is a statement of the estimated receipts and expenditure of the Government of India in a financial year, which begins on 1 April and ends on 31 March of the following year. The Constitution of India contains certain following ] with regard to the enactment of budget. No money bill imposing tax shall be introduced in the Parliament except on the recommendation
of the President, and such a bill shall not be introduced in the Rajya Sabha. No tax shall be levied or collected except by authority of law. Parliament can reduce or abolish a tax but cannot increase it.