The Annual Financial Statement of the Government of India in respect of each financial year shall be presented to the House on such day as the

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Q: 24 (CDS-I/2014)
The Annual Financial Statement of the Government of India in respect of each financial year shall be presented to the House on such day as the

question_subject: 

Polity

question_exam: 

CDS-I

stats: 

0,110,57,29,110,18,10

keywords: 

{'annual financial statement': [0, 0, 0, 1], 'financial year': [0, 0, 3, 5], 'finance minister': [4, 0, 3, 1], 'parliament': [15, 1, 3, 8], 'such day': [0, 0, 0, 1], 'india': [8, 1, 7, 13], 'government': [5, 0, 0, 1], 'house': [15, 3, 9, 18]}

The correct answer is option 2: President of India may direct.

The Annual Financial Statement of the Government of India is commonly known as the Union Budget. It is a comprehensive statement that presents the estimated receipts and expenditure of the Government for the upcoming financial year.

According to Article 112 of the Indian Constitution, the Annual Financial Statement must be presented to the House of Parliament. However, the specific day on which it is presented is determined by the President of India. The President, on the advice of the Council of Ministers, may direct the date on which the Union Budget will be presented to the House.

This means that the President has the authority to decide the day of presentation, and it is not determined by the Speaker, Parliament, or the Finance Minister. It is important to note that the Union Budget is an important document that outlines the government`s plans for revenue generation and expenditure allocation, and its presentation is a significant event in the annual calendar of the government.