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.

Inflation is an economic situation where there is a general increase in prices and a decrease in the purchasing power of money. The specific scenario described—"too much money chasing too few goods"—refers to demand-pull inflation, where the demand for goods and services exceeds the available supply. This leads to a rise in prices as consumers compete to purchase limited goods.

Lala Lajpat Rai, a prominent Indian freedom fighter and leader, was deported to Mandalay (present-day Myanmar) in 1907 due to his involvement in organizing and leading the agrarian movement in Punjab. This movement was aimed at protesting against the exploitation of Indian farmers by the British colonial government and opposing the increased land taxes and harsh policies that negatively impacted the agrarian community.

The Kuka Movement (also known as the Namdhari Movement) emerged in Punjab during the mid-19th century. It was primarily led by Guru Ram Singh, who aimed to revive and reform the Sikh community by purifying religious practices and emphasizing socio-political activism.

The Government of India Act 1919, also known as the Montagu-Chelmsford Reforms, is considered the beginning of the parliamentary system in India. This Act introduced significant changes to the governance structure of British India, laying the foundation for a system that resembled a parliamentary setup.