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Q: The Annual Financial Statement, which is presented as a part of budget, is covered under which Article of the Constitution of India?
  • A. Article 115
  • B. Article 114
  • C. Article 113
  • D. Article 112
Correct Answer: Option D - Article-112 of Indian constitution deals with Annual Financial statement, which is presented as a part of budget. This Article of constitution entails that the President shall in respect of every financial year cause to be laid before both the houses of parliament, a statement of the Annual receipts expenditures in this part referred to as the ’Annual Financial Statement’.
D. Article-112 of Indian constitution deals with Annual Financial statement, which is presented as a part of budget. This Article of constitution entails that the President shall in respect of every financial year cause to be laid before both the houses of parliament, a statement of the Annual receipts expenditures in this part referred to as the ’Annual Financial Statement’.

Explanations:

Article-112 of Indian constitution deals with Annual Financial statement, which is presented as a part of budget. This Article of constitution entails that the President shall in respect of every financial year cause to be laid before both the houses of parliament, a statement of the Annual receipts expenditures in this part referred to as the ’Annual Financial Statement’.