Under Article 112 of the Indian Constitution, the annual financial statement is officially referred to and laid before both Houses of Parliament as what?

💡 Solution & Explanation

Article 112 of the Constitution mandates that the government present an estimated statement of receipts and expenditures for the financial year, officially designating it as the Annual Financial Statement. Popular terminology often refers to this document as the budget, but that specific term does not appear anywhere in the constitutional text. This statement must be laid before both houses of Parliament upon the recommendation of the President.