Which constitutional Article deals with the annual financial statement, commonly referred to as the Budget, to be laid before both Houses of Parliament?

💡 Solution & Explanation

Article 112 of the Constitution mandates that the President shall cause to be laid before both Houses of Parliament an annual financial statement showing estimated receipts and expenditures. Article 110 defines Money Bills specifically. Article 116 provides for votes on account, votes of credit, and exceptional grants. Article 117 governs special provisions relating to financial bills. The budget distinguishes between charged expenditure and votable demands for grants.