Which Article of the Constitution of India contains the provision for the Union Budget, officially known as the Annual Financial Statement?

Introduction / Context:
The Union Budget is a key annual event in India, where the Government presents its estimates of revenue and expenditure for the coming financial year. In constitutional language, this budget is referred to as the Annual Financial Statement. This question tests whether you know which specific Article of the Constitution requires the Government to lay this statement before Parliament.

Given Data / Assumptions:
- The Union Budget is officially called the Annual Financial Statement in the Constitution.
- The options list four different Articles, but only one relates directly to this statement.
- The question focuses on identifying the correct Article number.

Concept / Approach:
Article 112 of the Constitution of India provides that the President shall, in respect of every financial year, cause to be laid before both Houses of Parliament a statement of the estimated receipts and expenditure of the Government of India, which is known as the Annual Financial Statement. This is what is commonly referred to as the Union Budget.

Step-by-Step Solution:
Step 1: Recall that the Articles in the early hundreds of the Constitution deal with the Union executive, Parliament and related financial provisions. Step 2: Identify that Article 112 specifically mentions the Annual Financial Statement, which is the constitutional term for the Union Budget. Step 3: Article 120 relates to language to be used in Parliament, not to the budget. Step 4: Article 121 deals with restrictions on discussion in Parliament regarding conduct of judges, again unrelated to the budget. Step 5: Article 102 concerns disqualification for membership of Parliament and not the Annual Financial Statement. Therefore, Article 112 is correct.

Verification / Alternative check:
You can verify by reading a summary of financial provisions in standard polity books where Article 112 is always mentioned in connection with the Annual Financial Statement. The wording clearly ties this Article to the presentation of what is popularly known as the Union Budget.

Why Other Options Are Wrong:
- Article 120: Deals with parliamentary language issues, not finances.
- Article 121: Concerns discussions on the conduct of judges of the Supreme Court and High Courts.
- Article 102: Deals with disqualification of Members of Parliament.

Common Pitfalls:
A common error is mixing up Article 112 with other Articles close in number, especially for learners who memorise only approximate ranges. Another pitfall is believing that the budget will be mentioned together with taxation in a single Article, whereas taxation provisions are spread across several parts of the Constitution. Focusing on the key phrase Annual Financial Statement helps anchor Article 112 in memory.

Final Answer:
The provision for the Union Budget, or Annual Financial Statement, is contained in Article 112 of the Constitution of India.