Which of the following is are the financial powers of the President of India 1 Money bills can be in...........

Indian Polity Others

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Which of the following is/are the financial powers of the President of India?

1) Money bills can be introduced in the Parliament only with his prior recommendation.

2) He causes to be laid the Union Budget before the Parliament.

3) No demand for a grant can be made except on his recommendation.

4) He can make advances out of the contingency fund of India to meet any unforeseen expenditure.

5) He constitutes the Union finance commission to recommend the distribution of revenues between the Centre and the states.

Select the Solution using the codes below.

3 and 5 only

1, 2 and 5 only

1, 2 and 4 only

1, 2, 3, 4 and 5

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Explanation:

Statement 1 and 3: Both statements are correct. More on these lines will be covered in the coming tests.

Statement 2: President shall, in respect of every financial year, cause to be laid before Parliament, Annual Financial Statement as per Article 112 of the Constitution. The Budget is presented to Parliament on such date as is fixed by the President.

Statement 4: The fund is held by the Finance Secretary (Department of Economic Affairs) on behalf of the President of India and it can be operated by executive action.