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Question
Mention three of Financial Powers of the Union Parliament.
Solution
Three Financial Powers of the Union Parliament are:
(i) It passes the Union Budget.
(ii) It can make supplementary grants if the amount authorised is insufficient.
(iii) If the Budget is not Passed before April 1, then there would be no money for the executive to spend. To provide money to the executive for day to day expenditure till the passage of budget a “Vote on Account” is passed.
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