With reference to the Union Government consider the following statements 1 The Department of Revenue...........

Economic Affairs Public Finance and Debt Management

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With reference to the Union Government consider the following statements.

1. The Department of Revenue is responsible for the preparation of Union Budget that is presented to the parliament

2. No amount can be withdrawn from the Consolidated Fund of India without the authorization of Parliament of India.

3. All the disbursements made from Public Account also need the Authorization from the Parliament of India

Which of the following statements given above is/are correct?

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UPSC CSP Previous Year Paper (2015)

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1 and 2 only

2 and 3 only

2 only

1, 2 and 3

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Explanation:

The Budget division is a part of the Department of Economic Affairs which prepare the Budget and the Finance Secretary coordinates the overall Budget-making process.

Public Accounts includes provident fund deposits,judicial deposits, savings bank deposits, departmental deposits, remittances and so on. This account is operated by executive action, that is, the payments from this account can by made without parliamentary appropriation. Such payments are mostly in the nature of banking transactions.

Prior authorization is required for withdrawing from Consolidated Fund of India. For Contingency fund of India, withdrawal can be authorized by the Parliament afterwards too.