What is the primary constitutional document through which the annual estimated receipts and expenditures of the Government of India are presented to Parliament?

💡 Solution & Explanation

The Union Budget, officially known as the Annual Financial Statement under Article 112 of the Constitution, details the government estimated receipts and expenditures for a financial year. The Economic Survey reviews economic developments and policy initiatives of the preceding year. Finance Commission reports recommend tax devolution formulas between the center and states every five years. The Union Budget serves as the principal fiscal policy instrument for governance and resource allocation.