BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the Lok Sabha
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the Rajya Sabha
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joint session of the Parliament
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meeting of the Union Cabinet
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Detailed explanation-1: -Union Budget is the ‘Annual Financial Statement’ or the Statement of the Estimated Receipts and Expenditure of the central government before the beginning of each financial year, presented to the Lok Sabha on such day as the President might direct.
Detailed explanation-2: -The Union Budget of India, referred to as the Annual Financial Statement in Article 112 of the Constitution of India, is the annual budget of the Republic of India, presented each year on the very first day of February by the Finance Minister of India in Parliament.
Detailed explanation-3: -Pre-liberalization The first union budget of independent India was presented by R. K. Shanmukham Chetty on 26 November 1947.
Detailed explanation-4: -The first Union Budget of India post-Independence was presented on November 26, 1947, just three months after India got independence from the British Empire. The nation’s first Union Budget was delivered by RK Shanmukham Chetty, the then finance minister.