|Consider the following statements regarding the Budget in Parliament.|
|1. The Constitution contains separate provisions for presentation of Railway Budget and General|
|2. The Constitution calls for separation of revenue account from other expenses in the budget.|
|3. The Constitution puts the responsibility of presentation of budget on the Finance Minister.|
|4. The Constitution provides for the laying of the budget in only the Lok Sabha.|
|Which of the statement(s) given above is/are incorrect?|
A) Only 1
B) 1, 2 and 3
C) 1 and 4
D) 2 and 4
Correct Answer: C
Solution :[c] Statement 1 is incorrect, since Article 112, which talks about the Budget (Annual Financial Statement) does not mention Railway Budget separately. The practice of presentation of Railway Budget is an old convention, which started in 1921. Statement 2 is correct, since it is provided in Article 112 mentioned above. Statement 3 is correct, the responsibility of presentation of Budget vested with Finance Minister. Statement 4 is also incorrect, since Article 112 again calls for laying of the Budget before both Houses of Parliament. Thus, the correct answer is [c].
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