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Question
Discuss the role of cabinet in financial matters.
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Solution
Control of Finance:
(i) The Cabinet is responsible for the expenditure of the government, for presenting the demand for grants and also for raising necessary income by various means including taxation.
(ii) The Finance Minister after thorough discussion and with the co-operation of other Ministers, prepares the budget for the coming financial year.
(iii) It is the responsibility of the Finance Minister to present the budget in its final shape before the Lok Sabha.
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