Consider the following statements regarding the Economic Survey and Budget of India i ...........

Economic Affairs Public Finance and Debt Management

Consider the following statements regarding the Economic Survey and Budget of India.

i) The Constitution of India does not use the term "Budget" anywhere

ii) The presentation of Economic Survey is neither a constitutional or statutory obligation

iii) The presentation of Economic Survey is mandated as per the provisions of the Fiscal Responsibility and Budget Management Act, 2003 (FRBMA)

Which of the above statements are incorrect?

iii only

ii only

i and ii only

none of the above

iii only

Starting from 1964, the economic survey is presented 24 hours before the union budget in the parliament.
In the union budget, the present government estimates the receivables and payables for the upcoming financial year.
The economic survey discusses the plus points in the Indian economy in the previous year.