The Constitution of India refers to the budget as _____.

The correct answer is Option 2. 

Key Points

• The Constitution of India refers to the budget as the "Annual Financial Statement."
• Article 112 of the Indian Constitution specifically mentions the "Annual Financial Statement" in relation to the budget.
• This statement is presented by the President of India to Parliament at the beginning of each financial year, outlining the estimated receipts and expenditures for that year.
• The term "Annual Financial Statement" is used interchangeably with the term "Budget" in the Indian context.
• The Annual Financial Statement provides details of the government's revenue and expenditure plans, including estimates of revenue from various sources and the proposed allocation of funds to different sectors and programs.