Which of the following are the methods of Parliamentary control over public finance in India?

1. Placing Annual Financial Statement before the Parliament
2. Withdrawal of moneys from Consolidated Fund of India
3. Provisions of supplementary grants and vote-on-account
4. A periodic or at least a mid-year review of programme of the Government against macroeconomic forecasts and expenditure by a Parliamentary Budget Office
5. Introduction of Finance Bill in the Parliament

Select the correct answer using the codes given below:

Parliamentary control over public finance in India is exercised through several constitutional mechanisms. Under Article 112, the President causes the Annual Financial Statement (Budget) to be laid before both Houses, allowing for legislative scrutiny of estimated receipts and expenditure [2]. Article 114 ensures that no money is withdrawn from the Consolidated Fund of India except under appropriation made by law, thereby requiring parliamentary authorization for all government spending [4]. Furthermore, the Parliament provides flexibility through supplementary grants for unforeseen expenditures and 'vote-on-account' to meet immediate needs before the full budget is passed [6]. The introduction of the Finance Bill is also a critical control method for authorizing taxation [5]. However, there is currently no 'Parliamentary Budget Office' in India that conducts periodic mid-year reviews against macroeconomic forecasts as a formal method of parliamentary control; such reviews are typically executive functions under the FRBM Act.

Sources

1. [1] Introduction to the Constitution of India, D. D. Basu (26th ed.). > Chapter 12: The Union Legislature > p. 257
2. [2] Indian Polity, M. Laxmikanth(7th ed.) > Chapter 23: Parliament > Constitutional Provisions > p. 251
3. [4] Laxmikanth, M. Indian Polity. 7th ed., McGraw Hill. > Chapter 23: Parliament > Stages in Enactment > p. 254
4. [5] https://www.indiabudget.gov.in/budget2011-2012/ub2011-12/keybud/keybud2011.pdf
5. [6] https://coa.delhi.gov.in/sites/default/files/inline-files/chapter_4.pdf