economics medium Fill in the Blank

Article ___ of the Indian Constitution mandates that the President shall cause to be laid before Parliament the 'Annual Financial Statement', commonly known as the Union Budget.

  1. PT
  2. short
  3. 112
  4. rivalrous (or unregulated common)

Answer: 112

Article 112 forms the constitutional basis of the Union Budget, requiring the government to present a detailed statement of its estimated receipts and expenditures for the upcoming financial year. It distinguishes between revenue and capital accounts to ensure fiscal transparency.

Topic Public Finance - Budgeting
Exam Relevance UPSC Prelims, SSC CGL, Railway
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