Demands for Grants
            The estimates of expenditure from the Consolidated Fund included in the Annual Financial
      Statement and required to be voted by the Lok Sabha are submitted in the form of Demands for
      Grants in pursuance of Article 113 of the Constitution. Generally, one Demand for Grant is
      presented in respect of each ministry or department. However, in respect of large ministries or
      departments more than one demand is presented. Each demand normally includes the total
      provisions required for a service, that is, provisions on account of revenue expenditure, capital
      expenditure, grants to state and union territory governments and also loans and advances relating
      to the service. In regard to union territories without legislature, a separate Demand is presented
      for each of the union territories.
      Finance Bill
            At the time of presentation of the Annual Financial Statement before Parliament, a Finance
      Bill is also presented in fulfilment of the requirement of Article 110(1)(a) of the Constitution,
      detailing the imposition, abolition, remission, alteration or regulation of taxes proposed in the
      Budget. A Finance Bill is a Money Bill as defined in Article 110 of the Constitution. It is
      accompanied by a Memorandum explaining the provisions included in it.
      Appropriation Bills
            After the Demands for Grants are voted by the Lok Sabha, Parliament’s approval to the
      withdrawal from the Consolidated Fund of the amounts so voted and of the amount required to
      meet the expenditure charged on the Consolidated Fund is sought through the Appropriation Bill.
      Under Article 114(3) of the Constitution, no amount can be withdrawn from the Consolidated
      Fund without the enactment of such a law by Parliament.
      Sources of Revenue
            In accordance with the Constitution (Eightieth Amendment) Act, 2000, which has been
      given retrospective effect from April 1, 1996, all taxes to in the Union List, except the duties and
      taxes referred to in Articles 268 and 269, respective surcharge on taxes and duties referred to in
      Article 271 and any cess levied for specific purpose under any law made by Parliament, shall be
      levied and collected by the Government of India and shall be distributed between the Union and
      the states in such manner as may be prescribed by the President on the recommendations of the
      Finance Commission. For the period 2015-2020, the manner of distribution between the Centre
      and the states has been prescribed in Presidential Orders issued after considering the
      recommendations of the Fourteenth Finance Commission. The main sources of Union Tax
      revenue are customs duties, union excise duties, service tax, corporate and income taxes, non—
      tax revenues largely comprise interest receipts, dividends/profits, fines and miscellaneous
      receipts collected in the exercise of sovereign functions, regulatory charges and license fees and
      user charges for publicly provided goods and services.
      Public Debt and Other Liabilities
            The Public Debt of India is classified into three categories of Union Government liabilities
      into internal debt, external debt and other liabilities.
            Internal debt for Government of India largely consists of fixed tenure and fixed rate
      government papers (dated securities and treasury bills) which are issued through auctions. These