UPSC Economics Business and Foreign Trade / व्यापार और विदेश व्यापार Question Bank Fiscal and Monetary Policy

  • question_answer
          Which of the following statements is/are correct as per Article 114(3) of the Constitution?
    1. No money can be taken out of consolidated fund without the approval of the Rajya Sabha
    2. No money can be taken out of consolidated fund without the approval of the Lok Sabha
    3. Money can be taken out of consolidated fund without any approval
    Select the correct answer using the code given below:

    A) 1 only              

    B)        2 only

    C) 3 only              

    D)        1, 2 and 3

    Correct Answer: D

    Solution :

    Lok Sabha approval is mandatory in order to take out money from the Consolidated fund


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