A vote on account, by which Parliament grants an advance to meet expenditure until the budget is passed, is provided for under:
- A.Article 113
- B.Article 115
- C.Article 116
- D.Article 117
Correct answer
Explanation
The correct answer is C, Article 116. It empowers the Lok Sabha to make a grant in advance, pending the completion of the procedure prescribed for voting the demands for grants and the passing of the Appropriation Act. This is the vote on account, and it keeps the machinery of government running in the interval, since money cannot lawfully be drawn from the Consolidated Fund without parliamentary authorisation.
Option A, Article 113, provides that estimates of expenditure charged on the Consolidated Fund shall not be submitted to the vote of Parliament and that a demand for a grant needs the President's recommendation. Option B, Article 115, deals with supplementary, additional or excess grants. Option D, Article 117, lays down the special provisions governing financial bills, including the requirement of the President's recommendation.
Read the full article: Union Budget and Fiscal Policy: Deficits, Articles and PYQs
Practice Questions
View allWhich of the following items is included in the capital receipts of the Indian Budget?
- A.Commercial revenue
- B.Interest received
- C.Issuance of treasury bills
- D.Dividends and profits
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A receipt is capital if it either creates a liability for the government or reduces an asset it holds.
Read the full explanation →Which of the following is India's first Paperless Budget?
- A.Union Budget 2021-22
- B.Union Budget 2019-20
- C.Union Budget 2020-21
- D.Union Budget 2018-19
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It was the first union budget in India not to be printed.
Read the full explanation →As per Union Budget 2021-22, Fiscal deficit is estimated at ______ per cent of GDP in 2021-22.
- A.5.1
- B.7.6
- C.6.8
- D.7.2
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The budget estimate for the fiscal deficit of the central government in 2021-22 was placed at 6.8 per cent of gross domestic product.
Read the full explanation →The Contingency Fund of India is to be augmented from Rs. 500 crores to _________ crores through the Finance Bill as per the Union Budget 2021-22.
- A.Rs. 15,000
- B.Rs. 30,000
- C.Rs. 25,000
- D.Rs. 10,000
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The Union Budget 2021-22 proposed raising the corpus of the Contingency Fund of India from five hundred crore rupees to thirty thousand crore rupees, and the change was carried through the Finance Bill of that year.
Read the full explanation →Under which article of the Constitution is the Union Budget presented as the Annual Financial Statement?
- A.Article 110
- B.Article 112
- C.Article 114
- D.Article 123
Show answer
The Constitution nowhere uses the word budget. Article 112 requires the President to cause to be laid before both Houses of Parliament, in respect of every financial year, a statement of the estimated receipts and expenditure of the Government of India, and this statement is called the Annual Financial Statement.
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