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Financial Powers of the Parliament

Which among t...

Question

Which among the following institutions is considered the 'Custodian of Public Funds'?

A

Finance Commission

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B

Council of Ministers

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C

Parliament

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D

Supreme Court

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Solution

The correct option is C Parliament
The Parliament of India determines how public money is spent on various matters. The Annual Budget passed by the Parliament is an estimate of income and expenditure of the Union Government. Hence, the Parliament is considered the ‘Custodian of Public Funds’.

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