With reference to Union Budget, consider the following statements :The Union Finance Minister on beh

Question

With reference to Union Budget, consider the following statements :The Union Finance Minister on behalf of the Prime Minister lays the Annual Financial Statement before both the Houses of Parliament.At the Union level, no demand for a grant can be made except on the recommendation of the President of India.Which of the statements given above is/are correct ?

Accepted Answer

Article 112 of the Indian Constitution states that every year the President of India shall cause to be laid before both the houses of the parliament the Annual Financial Statement. The Union Finance Minister presents the budget on behalf of the President and not the Prime Minister. Hence, statement 1 is not correct.Article 113 (3) prescribes that no demand for grants can be presented in the Lok Sabha without the President of India's prior approval. Hence, statement 2 is correct.Source: Laxmikanth Chapter on Parliament