Chapter : 2. Working Of Institutions
Financial Powers of the President of India
Financial Powers of the President of India :
(i) No money-bill can be presented it the Lok Sabha without the President’s prior permission.
(ii) Budget of the Central Government is presented to Lok Sabha by the Union Finance Minister only with the permission of the President.
(iii) He appoints Finance Commission after five years or earlier of there arises such a need.
(iv) He distributes the shares of the Income Tax between the union and the States. All these powers of the President are however, exercised by him only on the advice of the Cabinet.
Ceremonial Powers of the President of India :
1. Being Supreme Commander of all the three services, Army, Navy, and Air force, he takes salute on 26th January on the Republic Day.
2. The Diplomats of all foreign countries present the letters of their credentials before the President of India.
3. The President of India receives the Heads of different States whenever they happen to pay a visit to India.
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