Arrange the following procedural stages involved in the enactment of the Budget (Annual Financial Statement) in the Indian Parliament in their correct chronological sequence from the initial stage to final enactment:
- 1Presentation of the Annual Financial Statement in Parliament along with the Budget Speech
- 2General Discussion on the Budget in both Houses without taking up voting on individual demands
- 3Adjournment of Parliament for recess to enable Departmentally Related Standing Committees (DRSCs) to scrutinize Demands for Grants
- 4Voting on Demands for Grants exclusively in the Lok Sabha
- 5Consideration and passing of the Appropriation Bill to authorize withdrawal from the Consolidated Fund of India
- 6Passing of the Finance Bill to give statutory effect to the taxation proposals of the Government
Answer
The correct chronological order of stages in passing the Budget in Indian Parliament is: Presentation of the Budget -> General Discussion -> Scrutiny by Departmental Standing Committees during parliamentary recess -> Voting on Demands for Grants (in Lok Sabha) -> Passing of the Appropriation Bill -> Passing of the Finance Bill.
The statutory and procedural flow of the Indian Parliamentary Budget follows six strict sequential stages. It begins with Presentation of the Budget (Article 112), followed by a broad General Discussion. Parliament then adjourns for recess to let 24 Departmentally Related Standing Committees scrutinize individual ministry demands. Upon reassembling, the Lok Sabha votes on Demands for Grants. Next, the Appropriation Bill (Article 114) is passed to authorize withdrawals from the Consolidated Fund of India. Finally, the Finance Bill is passed to enact tax and revenue proposals.
Step-by-Step Solution
Key Concept
Stages in Enactment of Budget (Annual Financial Statement) under Indian Constitutional Law and Parliamentary Rules