Which of the following are the methods of Parliamentary control over public finance in India?
- Placing Annual Financial Statement before the Parliament
- Withdrawal of money from Consolidated Fund of India only after passing the Appropriation Bill
- Provisions of supplementary grants and vote-on-account
- A periodic or at least a mid-year review of the programme of the Government against macroeconomic forecasts and expenditure by a Parliamentary Budget Office
- Introducing Finance Bill in the Parliament
Select the correct answer using the codes given below:
Detailed Explanation:
✅ Statement 1 – Correct: Article 112 mandates placing the Annual Financial Statement (Budget) before Parliament, enabling financial scrutiny and control.
✅ Statement 2 – Correct: Article 114 requires Appropriation Bill passage before any withdrawal from the Consolidated Fund of India, ensuring Parliamentary authorization.
✅ Statement 3 – Correct: Supplementary grants (Article 115) and vote-on-account (Article 116) provide mechanisms for Parliament to control additional or interim expenditure.
❌ Statement 4 – Incorrect: India does not have a Parliamentary Budget Office for mid-year macroeconomic reviews; such institutional mechanisms are absent.
✅ Statement 5 – Correct: Finance Bill (Article 110) introduction in Parliament is mandatory for taxation proposals, enabling control over revenue measures.
Question 7 of 7 Budget and Financial Procedures
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