GK
INDIAN POLITICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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President
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Speaker
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Vice-President
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Finance Minister
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Detailed explanation-1: -Definition: Article 112 of the Constitution requires the government to present to Parliament a statement of estimated receipts and expenditure in respect of every financial year, from April 1 to March 31. This statement is called the annual financial statement.
Detailed explanation-2: -The General Budget is presented in Lok Sabha by the Minister of Finance, who makes a speech introducing the Budget and it is only in the concluding part of the speech that the proposals for fresh taxation or for variations in the existing taxes are disclosed.
Detailed explanation-3: -The correct answer is Budget. The budget is also referred to as the Annual Financial Statement in Article 112 of the Constitution of India. The Union Budget is the annual financial statement that contains the government’s revenue and expenditure for a fiscal year.