With reference to Union Budget, consider the following statements:

1. The Union Finance Minister on behalf of the Prime Minister lays the Annual Financial Statement before both the Houses of Parliament.

2. At the Union level, no demand for a grant can be made except on the recommendation of the President of India.

Which of the statements given above is/are correct?

1. (a) 1 only
2. (b) 2 only
3. (c) Both 1 and 2Correct answer
4. (d) Neither 1 nor 2

Answer: (c)