SarkariPYQ

SSC Selection Post 2024 PYQ — Question 33

SSC Selection Post - Matriculation Level - 24 June 2024 - Shift 1 • General Awareness • Q33

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According to article 112 of Indian constitution, who shall cause in every financial year a statement of estimated receipts and expenditure of the Government of India?

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Correct answer: B

Explanation

The correct answer is option 2 i.e. President.

  • According to Article 112 of the Indian Constitution, the President shall issue a statement of the estimated receipts and expenditure of the Government of India for each financial year.
  • In this Part, the term “annual financial statement” refers to the Union Budget of India, as mentioned under Article 112 of the Indian Constitution.
  • The budget includes
    • Revenue receipts and expenditures
    • Capital receipts and expenditures
    • Estimates for different ministries and departments
    • Details of fiscal deficit, subsidies, schemes, and allocations
  • The Union Budget is prepared by the Ministry of Finance and presented in the Parliament by the Finance Minister.