1 THE KARNATAKA BUDGET MANUAL CHAPTER-I INTRODUCTORY Annual Financial Statement Under Article 202 of the Constitution of India a statement of the estimated Rece

1 THE KARNATAKA BUDGET MANUAL CHAPTER-I INTRODUCTORY Annual Financial Statement Under Article 202 of the Constitution of India a statement of the estimated Receipts and Expenditure of the State for each financial year has to be laid before the two houses of the Legislature. This statement is known as the “Annual Financial Statement” or “Budget”. Structure 2. The receipts and disbursements of the S (Extractive summary — verify with official source.)