With reference to Union Budget, consider the following statements : 1. The Union Finance Minister on behalf of the President lays the Annual Financial Statement before both the Houses of Parliament. 2. At the Union level, no demand for a grant can be made except on the recommendation of the President of India. Which of the statements given above is/are correct?
Explanation
Statement 1 is Correct: Under Article 112, the President causes the Annual Financial Statement (Union Budget) to be laid before Parliament. In practice, the Union Finance Minister presents the Budget on behalf of the President before both Houses of Parliament.
Statement 2 is Correct: Article 113(3) of the Constitution explicitly provides that no demand for a grant shall be made except on the recommendation of the President of India. This ensures executive control over the proposal of expenditures from the Consolidated Fund of India.