Along with the Budget, the Finance Minister also places other documents before the Parliament which include ‘The Macro Economic Framework Statement’. The aforesaid document is presented because this is mandated by:

Correct Option

The Macro Economic Framework Statement is a statutory document whose presentation to Parliament is mandated by Section 3(5) of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003. This statement provides the macroeconomic backdrop for the Union Budget, outlining projections for key economic indicators such as Gross Domestic Product (GDP) growth, fiscal deficit, revenue deficit, and external balance.

Incorrect Options

Option (a) is incorrect. The presentation of the Macro Economic Framework Statement is a legal requirement under the FRBM Act, 2003, and not merely a long-standing parliamentary convention.

Options (b) and (c) are incorrect. Article 112 of the Constitution pertains to the Annual Financial Statement (Budget), Article 110(1) defines a Money Bill, and Article 113 deals with the procedure in Parliament with respect to estimates of expenditure. None of these articles mandate the presentation of the Macro Economic Framework Statement.