Under which Article of the Constitution of India is the President required to cause to be laid before both Houses of Parliament the 'Annual Financial Statement' or Union Budget?

💡 Solution & Explanation

Article 112 of the Constitution of India mandates that the President shall cause to be laid before both Houses of Parliament the Annual Financial Statement, which is commonly referred to as the Union Budget. This document details the estimated receipts and expenditures of the government for the upcoming financial year. Article 110, by contrast, specifically defines Money Bills regarding taxation and expenditure authorization. Budgetary procedures under the Constitution are high-priority topics for civil services exams.