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ICSE Class 8 History & Civics Question 2 of 6

The Union Executive — Question 3

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Question 3

What are the financial powers of the President?

Answer

The financial powers of the President are:

  1. Money-bills can be introduced in the Parliament only on the recommendation of the President.
  2. The President can authorise withdrawal of Money in advance from the Contingency Fund of India to meet unforeseen expenditure.
  3. The President appoints a Finance Commission after every five years to make recommendations on financial matters.