Financial Powers

The financial powers and functions of the President are:

(a) Money bills can be introduced in the Parliament only with his prior recommendation.

(b) He causes to be laid before the Parliament the annual financial statement (ie, the Union Budget).

(c) No demand for a grant can be made except on his recommendation.

(d) He can make advances out of the contingency fund of India to meet any unforeseen expenditure.

(e) He constitutes a finance commission after every five years to recommend the distribution of revenues between the Centre and the states.