The correct option is (a) Both A and R are true and R is the correct explanation of A.
Explanation
The Constitution of India establishes the principle of legislative control over public finance. This ensures that the Executive remains accountable to the Parliament for all financial matters, specifically regarding the receipt and expenditure of public funds.Analysis of Assertion (A): Correct.
According to Article 112 of the Constitution, the President shall, in respect of every financial year, cause to be laid before both the Houses of Parliament a statement of the estimated receipts and expenditure of the Government of India for that year. This is referred to as the "Annual Financial Statement" (Budget).
Analysis of Reason (R): Correct.
Article 266(3) mandates that no moneys out of the Consolidated Fund of India shall be appropriated except in accordance with law and for the purposes and in the manner provided in the Constitution. This embodies the fundamental democratic principle that the Executive cannot withdraw or spend public money without the specific authorization of the Legislature.
Justification for Option (a):
The requirement to lay the Annual Financial Statement (Assertion) exists precisely because the Executive requires legislative sanction to withdraw funds (Reason). The presentation of the statement is the first procedural step to secure the "appropriation by law" required to access the Consolidated Fund of India. Therefore, the constitutional restriction on fund withdrawal (R) is the underlying rationale for the mandatory presentation of the financial statement (A).
Key Takeaway: The Annual Financial Statement (Article 112) facilitates the Parliament's power to authorize expenditure, satisfying the condition set by Article 266 that no money can be withdrawn from the Consolidated Fund of India without legislative approval.