Financial powers of the president of India

Q.  Which of the following are the financial powers of the president of India?

1) Money bills can be introduced in the Parliament only with his prior recommendation.
2) He lays the reports of the Comptroller and Auditor General before the Parliament.
3) He causes to be laid before the Parliament the annual financial statement
- Published on 25 May 16

a. 1, 3
b. 1, 2
c. 2, 3
d. All of the above

ANSWER: 1, 3
 
The financial powers and functions of the President are:
  • Money bills can be introduced in the Parliament only with his prior recommendation.
  • He causes to be laid before the Parliament the annual financial statement (ie, the Union Budget).
  • No demand for a grant can be made except on his recommendation.
  • He can make advances out of the contingency fund of India to meet any unforeseen expenditure.
  • He constitutes a finance commission after every five years to recommend the distribution of revenues between the Centre and the states.

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