Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Macro Economics: Government Budget and Economy

Question:

Article 112 deals with:

Options:

Consolidated Fund of India

Public Account

Union Budget

Contingency Fund

Correct Answer:

Union Budget

Explanation:

The correct answer is Option (3) → Union Budget

"There is a constitutional requirement in India (Article 112) to present before the Parliament a statement of estimated receipts and expenditures of the government in respect of every financial year which runs from 1 April to 31 March. This ‘Annual Financial Statement’ constitutes the main budget document of the government."