Question

Article 112 of the Indian Constitution deals with:

• A. Consolidated Fund of India
• B. Public Account
• C. Union Budget
• D. Contingency Fund

Answer 1

The Correct Option is C

Article 112 of the Indian Constitution concerns the Union Budget. This article obligates the government to submit an annual budgetary statement to Parliament, specifying projected financial revenues and outlays for the ensuing fiscal year.

For clarity, consider the following:

• The Union Budget is an annual, exhaustive government document detailing its financial blueprint, encompassing tax, spending, and borrowing strategies.
• Article 112 promotes fiscal transparency and accountability, enabling parliamentary review and debate of the government's financial proposals.
• This article guarantees legislative authorization for government expenditures, upholding democratic governance tenets.

Therefore, Article 112 is correctly identified with the "Union Budget."