Under which Article of the Constitution of India must the Government lay the Annual Financial Statement (Union Budget) before Parliament each year?

Introduction / Context:
The Union Budget, formally known as the Annual Financial Statement, is a crucial document in India's public finance system. It sets out estimated receipts and expenditures for a financial year. This question checks familiarity with the specific Article of the Constitution that mandates the presentation of this statement to Parliament each year.

Given Data / Assumptions:

• The term Annual Financial Statement refers to the Union Budget.
• We are asked about the constitutional Article that covers this requirement.
• Options list Article numbers from different parts of the Constitution.
• We assume basic awareness that financial provisions are grouped in a particular range of Articles.

Concept / Approach:
Article 112 of the Constitution of India states that the President shall cause to be laid before both Houses of Parliament an Annual Financial Statement. This provision is the legal basis for the Union Budget. Other Articles deal with different subjects such as equality of opportunity in public employment, property rights, establishment of the Supreme Court, or Finance Commission. Therefore, knowing the structure of the financial provisions helps quickly locate the correct Article.

Step-by-Step Solution:
Step 1: Recall that the Union Budget is constitutionally called the Annual Financial Statement. Step 2: Remember that Articles in the range of 112 and onwards deal with financial matters at the Union level. Step 3: Identify Article 112 as the one that specifically mandates laying the Annual Financial Statement before Parliament. Step 4: Exclude other Articles which relate to different constitutional themes.

Verification / Alternative check:
Textbooks and the bare act of the Constitution make it clear that Article 112 is titled Annual financial statement. It defines the requirement to present estimates of revenue and expenditure to Parliament. No other Article uses this exact terminology at the Union level, which confirms that Article 112 is the correct choice.

Why Other Options Are Wrong:
Article 16: Deals with equality of opportunity in matters of public employment. Article 31: Refers to an erstwhile fundamental right to property, later removed and replaced with a legal right. Article 124: Concerns establishment and constitution of the Supreme Court. Article 280: Deals with the Finance Commission, which recommends distribution of financial resources but does not itself mandate the budget statement.

Common Pitfalls:
Learners sometimes confuse Article 112 with Articles relating to the Finance Commission or Consolidated Fund. Another mistake is not realising that the term Annual Financial Statement is the formal, constitutional name for the budget. Carefully mapping constitutional terms to the more familiar everyday names used in news and textbooks helps avoid errors in such questions.

Final Answer:
Article 112