Who in respect of every financial year cause to be laid before both the Houses of Parliament, a statement of the estimated receipts and expenditure of the Government of India for the year, which is known as "annual financial statement"?
A. President
B. Prime Minister
C. Finance Minister
D. Speakerof the House
Answer: Option C
Solution (By Examveda Team)
The correct answer is C: Finance Minister.Let's break down why:
The question asks who presents the "annual financial statement" (also known as the budget) to Parliament.
* The President (Option A): The President is the head of state, but doesn't directly handle financial matters like the budget presentation.
The president role is more ceremonial and supervisory.
* The Prime Minister (Option B): The Prime Minister is the head of the government but, while influential, the direct responsibility of presenting the budget lies with the Finance Minister.
The Prime Minister oversees the general functioning.
* The Finance Minister (Option C): The Finance Minister is specifically responsible for managing the country's finances. This includes preparing and presenting the annual budget (the "annual financial statement") to Parliament.
* The Speaker of the House (Option D): The Speaker presides over the proceedings of the Lok Sabha (the Lower House of Parliament) and maintains order.
They do not present the budget.
Therefore, the Finance Minister is the one who lays the annual financial statement before both Houses of Parliament.
This Question Belongs to Law >> Constitution Of India
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According to Article 112 of the Indian Constitution, the President of India shall, in respect of every financial year, cause to be laid before both Houses of Parliament, a statement of the estimated receipts and expenditure of the Government of India for that year, which is known as the "annual financial statement". This statement is more commonly known as the Union Budget.
While the Constitution assigns this duty to the President, the Union Finance Minister is the individual who physically presents the Budget and its accompanying documents in Parliament. The Finance Minister does so on behalf of the President, who acts on the advice of the Prime Minister and the Council of Ministers.
In summary, the President of India is constitutionally mandated to ensure the annual financial statement (Union Budget) is laid before Parliament, but the Union Finance Minister is the one who presents it.