SarkariPYQ

SSC GD 2025 PYQ — Question 32

SSC GD Const 2025 (English) - 18 Feb 2025 - Shift 2 • General Awareness • Q32

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Which of the statements is also known as the government budget?

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Correct answer: C

Explanation

The correct answer is option 3 i.e. Annaual Financial Statement

  • The Annual Financial Statement is also known as the government budget.
  • The Annual Financial Statement is presented by the government as part of the Union Budget.
  • It contains a summary of the government's revenue and expenditure for a financial year.
  • Mandated under Article 112 of the Indian Constitution, requiring the government to present the Union Budget annually.
  • Divided into three parts:
    • Consolidated Fund of India
    • Contingency Fund of India
    • Public Account of India
  • Includes estimates of receipts and expenditures for the upcoming financial year, along with actuals from the previous year and revised estimates for the current year.
  • Presented by the Union Finance Minister in Parliament, typically on February 1st.