1. The Department of Revenue is responsible for the preparation of Union Budget that is presented to the Parliament. |
2. No amount can be withdrawn from the Consolidated Fund of India without the authorization from the Parliament of India. |
3. All the disbursements made from Public Account also need the authorization from the Parliament of India. |
A) 1 and 2 only
B) 2 and 3 only
C) 2 only
D) 1, 2 and 3
Correct Answer: C
Solution :
All revenues received by the Government by way of taxes like Income Tax, Central Excise, Customs and other receipts flowing to the Government in connection with the conduct of Government business i.e. Non-Tax Revenues are credited into the Consolidated Fund constituted under Article 266 (1) of the Constitution of India. No amount can be withdrawn from the Fund without authorization from the Parliament.You need to login to perform this action.
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