Article 112 of the Constitution of India mandates the Union Government to lay before Parliament an "Annual Financial Statement," which is the formal name for what is commonly known as the Union Budget. It is a statement of the estimated receipts and expenditure of the Government of India for a financial year.
In the Parliamentary terminology, under Article 112 the Annual Financial Statement is called
Asked in APPSC Group 1 Prelims 2011 · Topic: The Parliament (Budget in Parliament: Financial Procedures and Funds)
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