Option 1: 1 April to 31 March -> In India, the financial year (FY) runs from 1st April to 31st March of the following year. Article 112 of the Indian Constitution mandates the presentation of the Annual Financial Statement (Union Budget) before Parliament for each financial year. This system has been followed since colonial times and continues to be the fiscal calendar for the Government of India, though there have been occasional debates about aligning it with the calendar year. -> correct
There is a constitutional requirement in India to present before the Parliament a statement of estimated receipts and expenditures of the government…
CUET UG 2025 — Economics Macro
There is a constitutional requirement in India to present before the Parliament a statement of estimated receipts and expenditures of the government in respect of every financial year which runs from............
Held on 3 Jun 2025 · Verified 13 Jul 2026.
Options
- A
1 April to 31 March.
- B
1 January to 31 December.
- C
1 July to 30 June.
- D
1 May to 30 April.
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