Who is considered as the main character of the budget process in India?

The correct answer is 'The Parliament'

Key Points

• The Parliament:
  • The Parliament plays a central role in the budget process in India. It is the supreme legislative body responsible for scrutinizing and approving the budget presented by the government.
  • The budget is presented as an annual financial statement by the Finance Minister in Parliament, which then goes through various stages including discussions, debates, and approvals.
  • Parliamentary control over public expenditure is exercised through its authority to grant funds for government activities, ensuring that taxpayer money is used efficiently and transparently.

Additional Information

• The Ministry of Finance:
  • The Ministry of Finance is responsible for preparing the budget and managing the country’s finances, but it is not the main character in the budget process as it merely prepares and presents the budget to Parliament.
• The Finance Minister:
  • The Finance Minister presents the budget in Parliament and plays a key role in its preparation and defense during parliamentary debates, but the final approval rests with Parliament.
• The Prime Minister:
  • The Prime Minister oversees the functioning of the government, including the Ministry of Finance, but does not play the primary role in the budget process, which is governed by parliamentary approval.