QUESTION

Medium

Indian Polity

Prelims 2012

Which of the following are the methods of Parliamentary control over public finance in India?

Placing Annual Financial Statement before the Parliament
Withdrawal of money from Consolidated Fund of India only after passing the Appropriation Bill
Provisions of supplementary grants and vote-on-account
A periodic or at least a mid-year review of the programme of the Government against macroeconomic forecasts and expenditure by a Parliamentary Budget Office
Introducing Finance Bill in the Parliament

Select the correct answer using the codes given below:

Select an option to attempt

Explanation

Placing Annual Financial Statement before the Parliament This ensures transparency and allows Parliament to analyze the government's proposed spending.

Withdrawal of money from Consolidated Fund of India only after passing the Appropriation Bill This grants Parliament control over the release of funds.

Provisions of supplementary grants and vote-on-account These mechanisms address unforeseen needs or temporary funding requirements, still requiring Parliamentary approval. Therefore, statements 1,2 and 3 are correct.

There is no parliamentary budget office to review programs of Government. Hence, statement 4 is wrong.

Parliament's approval of the Appropriation Bill and the Finance Bill together authorizes the government's spending plans and revenue-raising measures. Hence, statement 5 is correct.

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