2024 Economy - Government Budgeting

With reference to Union Budget, consider the following statements : 1. The Union Finance Minister on behalf of the Prime Minister lays the Annual Financial Statement before both the Houses of Parliament. 2. At the Union level, no demand for a grant can be made except on the recommendation of the President of India. Which of the statements given above is/are correct?

• 1 only
• 2 only
• Both 1 and 2
• Neither 1 nor 2