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Q: Who generally presents the Finance Budget in Indian Parliament ?
  • A. RBI Governor
  • B. Budget Minister
  • C. Finance Minister
  • D. Finance Secretary
Correct Answer: Option C - The Union Budget of India is referred as the "Annual Financial Statement" in article 112 of the Constitution of India. The word "Budget" is of French origin which means 'small leather purse'. Budget is generally presented in Lok Sabha by Finance Minister. It is a statement of estimated receipts and expenditure of the financial year i.e 1st April to 31st March. The stages through which the budget goes through in the parliament is as follows:– (i) Presentation of budget (ii) General discussion (ii) Scrutiny by departmental committees. (iv) Voting on demands of grants (v) Passing of the appropriation bill. (vi) Passing of finance bill.
C. The Union Budget of India is referred as the "Annual Financial Statement" in article 112 of the Constitution of India. The word "Budget" is of French origin which means 'small leather purse'. Budget is generally presented in Lok Sabha by Finance Minister. It is a statement of estimated receipts and expenditure of the financial year i.e 1st April to 31st March. The stages through which the budget goes through in the parliament is as follows:– (i) Presentation of budget (ii) General discussion (ii) Scrutiny by departmental committees. (iv) Voting on demands of grants (v) Passing of the appropriation bill. (vi) Passing of finance bill.

Explanations:

The Union Budget of India is referred as the "Annual Financial Statement" in article 112 of the Constitution of India. The word "Budget" is of French origin which means 'small leather purse'. Budget is generally presented in Lok Sabha by Finance Minister. It is a statement of estimated receipts and expenditure of the financial year i.e 1st April to 31st March. The stages through which the budget goes through in the parliament is as follows:– (i) Presentation of budget (ii) General discussion (ii) Scrutiny by departmental committees. (iv) Voting on demands of grants (v) Passing of the appropriation bill. (vi) Passing of finance bill.