With reference to the Union Government, consider the following statements: 1. The Department of Revenue is responsible for the preparation of Union Budget that is presented to the Parliament. 2. No amount can be withdrawn from the Consolidated Fund of India without the authorization from the Parliament of India. 3. All the disbursements made from Public Account also need the authorization from the Parliament of India. Which of the statements given above is/are correct?

Statement 2 is correct because Article 266(1) of the Constitution mandates that no money can be withdrawn from the Consolidated Fund of India without parliamentary authorization through an Appropriation Act. Statement 1 is incorrect as the Department of Economic Affairs, not the Department of Revenue, is the nodal agency for preparing the Union Budget, and Statement 3 is false because the Public Account is operated by executive action and does not require legislative approval for disbursements. The core concept tested is the constitutional framework governing government funds (Articles 266 and 267) and the administrative machinery of the Ministry of Finance.