Question
Which of the following Articles of the constitution refers to the Union Budget as the Annual Financial Statement?
This question was previously asked in
RRB NTPC 2019 CBT 1 Question Paper (8-Mar-2021) (Shift 2)
The correct answer is
Article 112
Article 112 Annual Financial Statement Explained
The Constitution of India outlines the procedure for the government's financial dealings.
- The term 'Union Budget' is constitutionally referred to as the 'Annual Financial Statement'.
- Article 112 of the Indian Constitution mandates this statement.
- It details the estimated receipts and expenditures of the Government of India for a particular financial year.
Therefore, Article 112 is the correct reference for the Annual Financial Statement.
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