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 only
2 only
Neither 1 nor 2
Both 1 and 2
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