The term "Budget" is mentioned in which Article of the Indian Constitution?
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A.
Article 110
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B.
Article 112
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C.
Article 123
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D.
Article 124
Correct Answer:
B. Article 112
Explanation:
Under Article 112 of the Indian Constitution, the President is required to present the Annual Financial Statement to Parliament for each financial year. While this document is popularly known as the Union Budget, the term "Budget" itself is not explicitly mentioned anywhere in the Constitution. Article 112 details the estimated receipts and expenditures of the Government of India, serving as the primary financial blueprint. Other related articles include Article 110, which defines Money Bills, and Article 202, which mandates a similar annual financial statement for State Governments. Since Article 112 provides the constitutional basis for what is commonly referred to as the budget, option B is the correct answer.
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