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 No amount can be withdrawn from the Consolidated Fund of India without the authorization from the Parliament of India. 3.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?

1. Statement 1 is incorrect. The preparation of the Union Budget is primarily the responsibility of the Budget Division within the Department of Economic Affairs, Ministry of Finance, not the Department of Revenue. 2. Statement 2 is correct. Article 266(3) of the Constitution explicitly states that no money out of the Consolidated Fund of India shall be appropriated except in accordance with law and for the purposes and in the manner provided in the Constitution. This requires authorization from the Parliament through an Appropriation Act (Article 114). 3. Statement 3 is incorrect. The Public Account of India (Article 266(2)) includes funds like provident funds, small savings, etc., which do not belong to the government but are held in trust. Disbursements from the Public Account are largely in the nature of banking transactions and do not require specific authorization from the Parliament. 4. Therefore, only statement 2 is correct.