Consider the following statement (s) is/are related to the annual financial statement (Budget)
I. The annual financial statement is divided into three parts, consolidated fund, contingency fund and public account.
II. All revenues raised by the government, money borrowed and receipts from loans given by the government flow into the consolidated fund of India.
III. Article 112 of the Constitution requires the government to present to Parliament a statement of estimated receipts and expenditure in respect of every financial year.
Select the correct statement (s):

Question

[A] Only I

[B] Only II

[C] Both I & II

[D] I, II and III

Answer & Explanation
Answer: I, II and III