Question : What is the role of the parliament or congress in the budget?

Option 1: To create the budget

Option 2: To approve the budget

Option 3: To implement the budget

 

Option 4: To regulate the money supply

Correct Answer: To approve the budget

Solution : The correct answer is (b) To approve the budget.

The role of the parliament or congress in the budget process is to approve the budget. In democratic systems, the executive branch of the government, typically led by the president or prime minister, is responsible for creating the budget proposal. However, the budget must be approved by the legislative body, such as the parliament or congress, before it can be implemented.

The parliament or congress plays a crucial role in reviewing and scrutinizing the proposed budget, considering its various components, such as revenue sources, expenditure priorities, and allocations to different sectors. Members of the legislative body have the opportunity to debate and discuss the budget proposal, suggest modifications, and vote on its approval.

The approval process often involves negotiations and compromises to ensure consensus among the lawmakers. Once the budget is approved by the parliament or congress, it becomes the official budget for the government, and the executive branch can proceed with implementing the budgetary allocations.

It's worth noting that while the parliament or congress has the power to approve the budget, the actual implementation of the budget falls under the responsibility of the executive branch and relevant government agencies.