Correct option is C
The Union Budget of India is presented under Article 112 of the Indian Constitution. Article 112 refers to the Annual Financial Statement, which is essentially the Union Budget. This article mandates the presentation of an annual statement showing the estimated receipts and expenditures of the government for each financial year.
Key points regarding Article 112:
It includes details of all receipts and expenditures, both revenue and capital, of the government.
The budget is divided into two parts: the Consolidated Fund of India, Contingency Fund of India, and the Public Account of India.
The Union Budget provides a comprehensive estimate of how the government plans to allocate resources for developmental and administrative purposes.
