The question asks about the specific Article in the Constitution of India that mandates the presentation of the statement of estimated receipts and expenditure of the Government of India before the Parliament for every financial year. This document is commonly known as the Union Budget.

Let's examine the relevant Articles provided in the options:

Analyzing Relevant Articles of the Constitution of India

Understanding what each Article entails is crucial to identifying the correct one related to the annual financial statement.

• Article 110: Definition of "Money Bills". This Article defines what constitutes a Money Bill. While the budget is presented as a Money Bill, Article 110 itself defines the nature of such bills, not the requirement to lay the annual financial statement before Parliament.
• Article 111: Assent to Bills. This Article deals with the procedure by which the President gives assent to Bills passed by the Parliament, thereby making them Acts. This is a general procedure for all bills, not specifically about the budget presentation.
• Article 112: Annual financial statement. This Article explicitly states that the President shall, in respect of every financial year, cause to be laid before both the Houses of Parliament a statement of the estimated receipts and expenditure of the Government of India for that year. This perfectly matches the description in the question.
• Article 113: Procedure in Parliament with respect to estimates. This Article deals with the procedure in Parliament regarding the estimates included in the annual financial statement (the Demands for Grants). It outlines how these estimates are to be dealt with in Parliament, but Article 112 is the one that requires the statement itself to be laid.

Based on the descriptions, Article 112 is the one that directly addresses the requirement for laying the statement of estimated receipts and expenditure of the Government of India before the Parliament for each financial year.

Key Points on the Annual Financial Statement under Article 112

• It is a statement of estimated receipts and expenditure of the Government of India.
• It covers a specific financial year.
• It must be laid before both the Lok Sabha and the Rajya Sabha (both Houses of Parliament).
• The President is responsible for causing this statement to be laid before Parliament.

Therefore, the Article of the Constitution of India under which the statement of estimated receipts and expenditure of the Government of India has to be laid before the Parliament in respect of every financial year is Article 112.

Revision Table: Important Articles related to Indian Budget

Additional Information on Government Financial Statements and Parliament

The process of presenting and discussing the statement of estimated receipts and expenditure is a critical part of parliamentary control over government finance. Article 112 is the foundational article for this process, setting the stage for the annual budget presentation. The Parliament then debates and approves the government's financial proposals for the upcoming financial year based on this statement.

The annual financial statement provides a comprehensive picture of the government's fiscal position, including revenue receipts, capital receipts, revenue expenditure, and capital expenditure. The estimates are presented along with comparative figures for the previous year and the current year. This transparency allows Parliament to scrutinize the government's financial plans and performance.