Which constitutional document outlines the estimated receipts and expenditure of the Government of India for a financial year, commonly referred to as the Union Budget?

💡 Solution & Explanation

Article 112 of the Constitution of India mandates the presentation of the Annual Financial Statement, popularly known as the Union Budget, before both Houses of Parliament for every financial year. Article 280 deals with the constitution of the Finance Commission every five years. Article 266 establishes the Consolidated Fund of India.