Civics

Which one of the following is the financial power of the President?


ANSWER

To appoint the Finance Commission after every five years


SOLUTION

The President has an important role in the financial administration of the country. He is the fiscal head of India. His duty is to ensure its financial stability. Following are his financial powers:

  • The annual budget has to be placed to president before introducing in the Parliament.
  • A money bill can be introduced in the Parliament only with the President’s recommendation.
  • The president can sanction advances out of the Contingency Fund of India to meet unforeseen expenditures.
  • The President appoints a Finance commission after every five years to recommend the distribution of the taxes between the centre and the States. 

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Single Correct Medium Published on 15th 09, 2020
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