Under which Article of the Constitution of India is the Government required to lay before both Houses of Parliament the 'Annual Financial Statement' (commonly called the Union Budget)?

💡 Solution & Explanation

Article 112 of the Indian Constitution mandates the presentation of the Annual Financial Statement, detailing estimated receipts and expenditures of the central government for every financial year. Alternative articles pertain to money bills, taxation powers, or the Finance Commission rather than the Union Budget statement. Constitutional articles governing financial procedures are frequently examined in public administration papers.