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Question
Q. With reference to various grants made by Parliament, consider the following statements:
Which of the statements given above is/ are correct?
Q. With reference to various grants made by Parliament, consider the following statements:
Which of the statements given above is/ are correct?
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Solution
The correct option is C Both 1 and 2
Explanation:
- Statement 1 is correct: Supplementary grant is granted when the amount authorised by the Parliament through the appropriation act for a particular service for the current financial year is found to be insufficient for that year.
- Statement 2 is correct: Excess Grant is granted when money has been spent on any service during a financial year in excess of the amount granted for that service in the budget for that year. It is voted by the Lok Sabha after the financial year. Before the demands for excess grants are submitted to Lok sabha for voting, they must be approved by the Public Accounts Committee of Parliament.
Explanation:
- Statement 1 is correct: Supplementary grant is granted when the amount authorised by the Parliament through the appropriation act for a particular service for the current financial year is found to be insufficient for that year.
- Statement 2 is correct: Excess Grant is granted when money has been spent on any service during a financial year in excess of the amount granted for that service in the budget for that year. It is voted by the Lok Sabha after the financial year. Before the demands for excess grants are submitted to Lok sabha for voting, they must be approved by the Public Accounts Committee of Parliament.
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