Multiple Choice Questions on Consider the statements with regard to Budget in India Constitution provides that ldquo Budget rdquo........... for UPSC Civil Services Examination (General Studies) Preparation

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Multiple Choice Questions

Consider the statements with regard to Budget in India Constitution provides that ldquo Budget rdquo...........

Economic Affairs Planning in India
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    Consider the statements with regard to Budget in India

    1. Constitution provides that “Budget” be laid before both the Houses of Parliament every financial year.
    2. The “Budget” is a statement of the estimated receipts and expenditure of the Government of India in a financial year.
    3. Ministry of Finance prepares the Budget.

    Select the correct statement.

    1&2 only

    Incorrect Answer

    2&3 only

    Correct Answer

    1&3 only

    Incorrect Answer

    All of the above

    Incorrect Answer
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    Explanation:
    • Article 112 of the Constitution refers to the budget as the ‘annual financial statement’. In other words, the term ‘budget’ has nowhere been used in the Constitution.
    • The budget is prepared by the budget division in the Ministry of Finance after consulting with other ministries and the Planning Commission.

    Hence only statements 2&3 are correct.

    By: Shubham Tiwari
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