Which of the following statements are correct in the context of Indian Budget 1 Norma...........

Indian Polity Parliamentary Procedures

Which of the following statements are correct in the context of Indian Budget

1. Normally ‘Vote on Account is’ taken for two months.

2. General Economic Survey of the country is not a part of Budget Speech

3. In an election year, Budget may be presented twice—first to secure Vote on Account for a few months and later in full.

4. The ‘Annual Financial Statement’ is laid on the Table of Rajya Sabha at the conclusion of the speech of the Finance Minister in Lok Sabha

5. Cut Motions are in the context of Demand for Grants

Codes

1, 3, 4 and 5

1, 2, 4 and 5

2, 3, 4 and 5

All of the above are true

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Explanation:

2nd statement is incorrect. Economic Survey is a falgship annual document of the Ministry of Finance, Government of India, Economic Survey reviews the developments in the Indian economy over the previous 12 months, summarizes the performance on major development programs, and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term. This document is presented to both houses of Parliament during the Budget Session.