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 3. Provisions of supplementary grants and vot

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Q: 60 (IAS/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
3. Provisions of supplementary grants and vote-on-account
4. A periodic or at least a mid-year review of programme of the Government against macroeconomic forecasts and expenditure by a Parliamentary Budget Office 5. Introduction Finance Bill in the Parliament
Select the correct answer using the codes given below:

question_subject: 

Polity

question_exam: 

IAS

stats: 

0,113,148,113,21,19,108

keywords: 

{'introduction finance bill': [0, 0, 0, 1], 'parliamentary control': [0, 0, 1, 1], 'parliamentary': [0, 0, 0, 1], 'finance': [5, 2, 5, 15], 'parliament': [15, 1, 3, 8], 'annual financial statement': [0, 0, 0, 1], 'consolidated fund': [1, 0, 0, 3], 'expenditure': [2, 0, 2, 4], 'budget office': [0, 0, 0, 1], 'methods': [5, 0, 2, 10], 'government': [5, 0, 0, 1], 'provisions': [0, 0, 0, 1], 'programme': [0, 0, 8, 15], 'macroeconomic forecasts': [0, 0, 0, 1], 'india': [8, 1, 7, 13]}

The correct answer is 1, 2, 3, and 5 only.

Explanation:

Parliamentary control over public finance in India is exercised through various methods, which include:

1. Placing Annual Financial Statement before the Parliament: The Union Budget, which contains the Annual Financial Statement, is presented before the Parliament, which discusses and approves the budget.

2. Withdrawal of moneys from Consolidated Fund of India: No money can be withdrawn from the Consolidated Fund of India without the authorization of the Parliament.

3. Provisions of supplementary grants and vote-on-account: The government can seek supplementary grants and vote-on-account from the Parliament in case of unforeseen expenditure.

4. A periodic or at least a mid-year review of the programme of the Government against macroeconomic forecasts and expenditure by a Parliamentary Budget Office: This is not a method of Parliamentary control over public finance in India.

5. Introduction of Finance Bill in the Parliament: The Finance Bill, which contains the taxation proposals of the government, is presented before the Parliament and is discussed and approved.

Therefore, the correct answer is 1, 2, 3, and 5 only.