Which of the following are the methods of Parliamentary control over public finance in India

2012

Which of the following are the methods of Parliamentary control over public finance in India?
1. Placing Annual Financial Statement before the Parliament.
2. Withdrawal of moneys from Consolidated Fund of India only after passing the Appropriation Bill.
3. Provisions of supplementary grants and vote-on-account.
4. A periodic or at least a mid-year review of programmes of the Government against macroeconomic forecasts and expenditure by a Parliamentary Budget Office.
5. Introducing Finance Bill in the Parliament.
Select the correct answer using the code given below:

(a)

1, 2, 3 and 5 only

(b)

1, 2 and 4 only

(c)

3, 4 and 5 only

(d)

1, 2, 3, 4 and 5

Answer:

(a)

Difficult

Core Books/NCERT

Explanation

Methods of Parliamentary control over public finance include placing the Annual Financial Statement before Parliament (Statement 1), withdrawing money from the Consolidated Fund of India only after passing the Appropriation Bill (Statement 2), and providing supplementary grants and vote-on-account (Statement 3). Additionally, the Finance Bill must be introduced in Parliament (Statement 5). However, a mid-year review by a Parliamentary Budget Office is not a method used in India (Statement 4 is incorrect).