India Exam Junction

16. Which Article in the constitution of India deals with the Annual Financial Statement ?

  1. Article 111

  2. Article 112

  3. Article 12

  4. Article 223

Correct Answer :

Article 112

Solution

Article 112 of the Indian Constitution deals with the Annual Financial Statement, commonly known as the Union Budget. This article mandates that the President of India shall, in respect of every financial year, cause to be laid before both Houses of Parliament an Annual Financial Statement. It outlines the estimated receipts and expenditures of the government for that particular year.

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