What is the annual financial statement?
The annual financial statement, as mentioned in Article 112 of the Constitution of India, is a statement of the estimated receipts and expenditure of the Government of India for a financial year. It is laid before both Houses of Parliament by the President and shows separately the expenditure charged upon the Consolidated Fund of India and other expenditure proposed to be made from the Consolidated Fund. It also distinguishes between revenue account expenditure and other expenditure.