Difficulty: Easy
Correct Answer: Finance Minister
Explanation:
Introduction / Context:
This question examines your knowledge of the budget making process in India and the role of key economic institutions and office holders. The presentation of the Union Budget in Parliament is one of the most important annual events in India's economic governance. Knowing who actually presents the Budget and the Finance Bill on the floor of the House is essential basic polity and economy general knowledge for any competitive exam aspirant.
Given Data / Assumptions:
Concept / Approach:
The Government of India prepares the Union Budget under the guidance of the Ministry of Finance, in consultation with other ministries and bodies. The final document includes the annual financial statement, demands for grants, and the Finance Bill for taxation changes. It is the Union Finance Minister, as a member of the Council of Ministers and the political head of the Finance Ministry, who presents the Budget in the Lok Sabha. The Reserve Bank of India and civil servants such as the Finance Secretary assist in formulation and implementation, but they do not present the Budget in Parliament. There is also no official post called Budget Minister in the Indian constitutional framework.
Step-by-Step Solution:
Step 1: Identify that the Budget is a government policy document, so it must be presented by a minister, not a bureaucrat or central bank official.Step 2: Recall that the Constitution and parliamentary practice recognise the Finance Minister as the minister in charge of the budget and financial matters.Step 3: Note that there is no separate constitutional designation officially called Budget Minister in India.Step 4: Select Finance Minister from the options as the correct answer.
Verification / Alternative check:
If you look at news reports and historical references, they consistently mention that individuals like Morarji Desai, Manmohan Singh, P Chidambaram, Arun Jaitley, Nirmala Sitharaman, and others presented the budget in their capacity as Finance Ministers. The RBI Governor usually delivers monetary policy statements but never presents the budget to Parliament. The Finance Secretary is a senior civil servant who may brief the media and assist in drafting but does not stand at the Lok Sabha podium to present the budget. This pattern through decades confirms that the Finance Minister is the correct answer.
Why Other Options Are Wrong:
The RBI Governor heads the central bank and focuses on monetary policy, banking regulation, and financial stability, but does not present the government budget in Parliament, so this option is incorrect.
There is no formal constitutional post called Budget Minister in India; this phrase is sometimes used informally, but the official role is that of the Finance Minister, so this option is invalid in a strict exam context.
The Finance Secretary is a top bureaucrat in the Ministry of Finance who helps prepare the budget but cannot present it in Parliament because that responsibility rests with an elected minister, so this option is also wrong.
Common Pitfalls:
Some candidates may be misled by the presence of the term Budget Minister and think that there is a special ministerial office for budget presentation, which is not the case. Others might confuse the powerful position of the RBI Governor with budget related powers and assume that the Governor presents the budget, which again is incorrect. To avoid these mistakes, remember that the Finance Minister is the political authority accountable to Parliament for fiscal policy and therefore has the responsibility to present the Union Budget.
Final Answer:
In India, the annual Union Budget and the related Finance Bill are normally presented in Parliament by the Union Finance Minister.
Discussion & Comments