The Cabinet is a small body of senior members of the party who are included in the Council of Ministers. Cabinet Ministers hold important portfolios and decide major policies of the government. The Cabinet is the nucleus of the administration as important decisions are taken by it. The policies formulated by the Cabinet Ministers have to be followed by other ministers. The Prime Minister selects the senior and the most trustworthy members of his party and advises the President to appoint them. The role of the cabinet in financial matters is discussed below
Role of the cabinet in financial matters
(i) The Cabinet is responsible for the expenditure of the government, for presenting the demand for grants, and also for raising necessary income by various means including taxation.
(ii) The Finance Minister after thorough discussion and with the co-operation of other Ministers, prepares the budget for the coming financial year.
(iii) It is the responsibility of the Finance Minister to present the budget in its final shape before the Lok Sabha.
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