UPSC Exam  >  UPSC Questions  >  Which of the following statements are correct... Start Learning for Free
Which of the following statements are correct about the Union Budget of India?
1. The Union Budget of India is referred to as the Annual Financial Statement in Article 112 of the Constitution of India
2. It is presented each year on the last working day of March by the Finance Minister of India in Parliament
3. The budget has to be passed by the House before it can come into effect on April 1 
  • a)
    1 only 
  • b)
    1 and 2 
  • c)
    1 and 3 
  • d)
    1, 2 and 3 
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Which of the following statements are correct about the Union Budget o...
The Union Budget of India, referred to as the Annual Financial Statement in Article 112 of the Constitution of India, is the annual budget of the Republic of India, presented each year on the last working day of February by the Finance Minister of India in Parliament. The budget has to be passed by the House before it can come into effect on April 1, the start of India's financial year. Former Finance Minister Morarji Desai presented the budget eight times, the most by any. 
View all questions of this test
Most Upvoted Answer
Which of the following statements are correct about the Union Budget o...
Union Budget of India

The Union Budget of India is an important financial statement that outlines the government's revenue and expenditure for the upcoming fiscal year. Here are the correct statements about the Union Budget of India:

1. Annual Financial Statement
The Union Budget of India is referred to as the Annual Financial Statement in Article 112 of the Constitution of India.

2. Presentation
It is presented each year on the last working day of February by the Finance Minister of India in Parliament.

3. Approval
The budget has to be passed by the House before it can come into effect on April 1.

Correct answer: C (1 and 3)

Explanation:
The Union Budget of India is presented by the Finance Minister of India in Parliament. It is an important document that outlines the government's revenue and expenditure for the upcoming fiscal year. The Annual Financial Statement is referred to in Article 112 of the Constitution of India. The budget has to be approved by the House before it can come into effect on April 1. Therefore, statements 1 and 3 are correct. However, statement 2 is incorrect as the Union Budget is presented on the first working day of February, not the last working day of March.
Explore Courses for UPSC exam

Top Courses for UPSC

Which of the following statements are correct about the Union Budget of India?1. The Union Budget of India is referred to as the Annual Financial Statement in Article 112 of the Constitution of India2. It is presented each year on the last working day of March by the Finance Minister of India in Parliament3. The budget has to be passed by the House before it can come into effect on April 1a)1 onlyb)1 and 2c)1 and 3d)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?
Question Description
Which of the following statements are correct about the Union Budget of India?1. The Union Budget of India is referred to as the Annual Financial Statement in Article 112 of the Constitution of India2. It is presented each year on the last working day of March by the Finance Minister of India in Parliament3. The budget has to be passed by the House before it can come into effect on April 1a)1 onlyb)1 and 2c)1 and 3d)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following statements are correct about the Union Budget of India?1. The Union Budget of India is referred to as the Annual Financial Statement in Article 112 of the Constitution of India2. It is presented each year on the last working day of March by the Finance Minister of India in Parliament3. The budget has to be passed by the House before it can come into effect on April 1a)1 onlyb)1 and 2c)1 and 3d)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statements are correct about the Union Budget of India?1. The Union Budget of India is referred to as the Annual Financial Statement in Article 112 of the Constitution of India2. It is presented each year on the last working day of March by the Finance Minister of India in Parliament3. The budget has to be passed by the House before it can come into effect on April 1a)1 onlyb)1 and 2c)1 and 3d)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?.
Solutions for Which of the following statements are correct about the Union Budget of India?1. The Union Budget of India is referred to as the Annual Financial Statement in Article 112 of the Constitution of India2. It is presented each year on the last working day of March by the Finance Minister of India in Parliament3. The budget has to be passed by the House before it can come into effect on April 1a)1 onlyb)1 and 2c)1 and 3d)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of Which of the following statements are correct about the Union Budget of India?1. The Union Budget of India is referred to as the Annual Financial Statement in Article 112 of the Constitution of India2. It is presented each year on the last working day of March by the Finance Minister of India in Parliament3. The budget has to be passed by the House before it can come into effect on April 1a)1 onlyb)1 and 2c)1 and 3d)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Which of the following statements are correct about the Union Budget of India?1. The Union Budget of India is referred to as the Annual Financial Statement in Article 112 of the Constitution of India2. It is presented each year on the last working day of March by the Finance Minister of India in Parliament3. The budget has to be passed by the House before it can come into effect on April 1a)1 onlyb)1 and 2c)1 and 3d)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Which of the following statements are correct about the Union Budget of India?1. The Union Budget of India is referred to as the Annual Financial Statement in Article 112 of the Constitution of India2. It is presented each year on the last working day of March by the Finance Minister of India in Parliament3. The budget has to be passed by the House before it can come into effect on April 1a)1 onlyb)1 and 2c)1 and 3d)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Which of the following statements are correct about the Union Budget of India?1. The Union Budget of India is referred to as the Annual Financial Statement in Article 112 of the Constitution of India2. It is presented each year on the last working day of March by the Finance Minister of India in Parliament3. The budget has to be passed by the House before it can come into effect on April 1a)1 onlyb)1 and 2c)1 and 3d)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Which of the following statements are correct about the Union Budget of India?1. The Union Budget of India is referred to as the Annual Financial Statement in Article 112 of the Constitution of India2. It is presented each year on the last working day of March by the Finance Minister of India in Parliament3. The budget has to be passed by the House before it can come into effect on April 1a)1 onlyb)1 and 2c)1 and 3d)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice UPSC tests.
Explore Courses for UPSC exam

Top Courses for UPSC

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev