SSC CHSL 2025 PYQ — Question 90

The correct answer is Option 1: Parliament.
Explanation:
According to the Indian Constitution, it is a mandatory constitutional requirement for the Central Government to present the Annual Financial Statement before Parliament for every financial year.
Article 112: Under Article 112 of the Constitution, the President ensures that a statement of the estimated receipts and expenditure of the Government of India (commonly referred to as the 'Budget') is laid before both Houses of Parliament (the Lok Sabha and the Rajya Sabha).
Procedure: It is presented in the Lok Sabha by the Finance Minister. The Budget does not come into effect until it has been passed by Parliament.
For States: Similarly, under Article 202, it is mandatory for the States to present their Annual Financial Statement before the State Legislature.
Key Facts about the Budget:
Mention of the term 'Budget': An interesting fact is that the word 'Budget' is not used anywhere in the Indian Constitution. Instead, the term 'Annual Financial Statement' is used.
Date of Presentation: Currently, the Budget is presented on February 1st (prior to 2017, it used to be presented on the last working day of February).
Merger of the Railway Budget: In 2017, ending a 92-year-old tradition, the Railway Budget was merged with the General Budget.
Additional Information (Constitutional Provisions):
Article 110: This defines a 'Money Bill'.
Article 114: This relates to the 'Appropriation Bill', without which the government cannot withdraw money from the Consolidated Fund.
Potential Questions for Upcoming Exams:
Question: Which Article of the Indian Constitution provides for the 'Annual Financial Statement'?
Answer: Article 112.
Question: Who decides whether a Bill is a 'Money Bill' or not?
Answer: The Speaker of the Lok Sabha.
Question: Who presented the first Budget of independent India?
Answer: R. K. Shanmukham Chetty (in 1947).