OPSC OAS 2019 PrelimsPolityQuestion 13
Solved previous year question from the OPSC OAS/OCS 2019 Preliminary Examination (General Studies), with the official answer key and a detailed explanation.
Question
Who represents the Government of India while presenting the budget to the Parliament?
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Answer & Explanation
Correct answer: (B) The Finance Minister
- The finance minister presents the budget before the Lower House (Lok Sabha) first and delivers his ‘budget speech’. Since 2017 it is presented on the 1st of February (earlier it was presented on the last working day of February).
- The term ‘budget’ has nowhere mentioned in the Constitution, rather it is the popular name for the ‘annual financial statement’. Article 112 of the Indian Constitution deals with the ‘annual financial statement’.
- The budget is a statement of the estimated receipts, expenditure, and certain other elements of the Government of India in a financial year.
