Question : According to Article 112 of the Constitution of India, the Union Budget for a year is called __________.
Option 1: Fiscal Budget
Option 2: Assessment Statement
Option 3: Annual Financial Statement
Option 4: Annual Budget Statement
Correct Answer: Annual Financial Statement
Solution : The correct option is the Annual Financial Statement .
According to Article 112 of the Constitution of India, the Union Budget for a year is called the " Annual Financial Statement ." It is a comprehensive statement presenting the estimated receipts and expenditures of the Government of India for the fiscal year, providing the financial roadmap for the nation.
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