Article ___ of the Indian Constitution mandates that the President shall cause to be laid before Parliament the 'Annual Financial Statement', commonly known as the Union Budget.
- PT
- short
- 112
- rivalrous (or unregulated common)
Answer: 112
Article 112 forms the constitutional basis of the Union Budget, requiring the government to present a detailed statement of its estimated receipts and expenditures for the upcoming financial year. It distinguishes between revenue and capital accounts to ensure fiscal transparency.