GENERAL KNOWLEDGE

Detailed explanation-1: -The General Budget has totally of 109 demands (103 for civil expenditure and 6 for defense expenditure), the Railway Budget has 32 demands. Each demand is voted separately by the Lok Sabha.

Detailed explanation-2: -Under Article 112 of the Constitution, a statement of estimated receipts and expenditure of the Government of India has to be laid before Parliament in respect of every financial year which runs from 1st April to 31st March. This statement titled “Annual Financial Statement” is the main Budget document.

Detailed explanation-3: -It is granted for meeting an unexpected demand upon the resources of India, when on account of the magnitude or the indefinite character of the service, the demand cannot be stated with the details ordinarily given in a budget. Hence, it is like a blank cheque given to the Executive by the Lok Sabha.