Which Article of the Indian Constitution deals with the annual financial statement of the Government of India?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Article 112.
Article 112 of the Indian Constitution deals with the annual financial statement of the Government of India. This article mandates that the President of India must present a budget to Parliament every year, which includes the government's estimated income and expenditure for the upcoming fiscal year. This document is essential for the government's financial planning and is debated and passed by Parliament to allocate resources for various governmental functions. It serves as the foundation for fiscal accountability and governance.