Q. Which of the following is/are financial power/s and function/s of the President?
1.Money bills can be introduced in Parliament only with his prior recommendation.
2.No demand for a grant can be made except on his recommendation.
3.He can make advances out of the contingency fund of India to meet any unforeseen expenditure.
How many of the statements given above are correct?
Answer: C
Notes:
Explanation: The financial powers and functions of the President are:
(a) Money bills can be introduced in Parliament only with his prior recommendation.
(b) He causes to be laid before the Parliament the annual financial statement (ie, the Union Budget).
(c) No demand for a grant can be made except on his recommendation.
(d) He can make advances out of the contingency fund of India to meet any unforeseen expenditure.
(e) He constitutes a finance commission after every five years to recommend the distribution of revenues between the Centre and the states.
Source: Laxmikanth
