Editing President of India (section)

=== Financial powers ===
* A financial bill can be introduced in the parliament only with the president's recommendation.
* The president lays the Annual Financial Statement, i.e. the Union budget, before the parliament.
* The president can take advances out of the Contingency Fund of India to meet unforeseen expenses.
* The president constitutes a [[Finance Commission]] every five years to recommend the distribution of the taxes between the centre and the States. The [[Fifteenth Finance Commission|most recent]] was constituted in 2017.<ref name="Parliamentary System in India">{{cite book|url=https://books.google.com/books?id=gcoemzvt97AC&pg=PA25|title=Parliamentary System in India|last=Deogaonkar|first=S.G.|publisher=Concept Publishing|year=1997|isbn=978-81-7022-651-2|page=25|archive-url=https://web.archive.org/web/20160516185543/https://books.google.com/books?id=gcoemzvt97AC&pg=PA25|archive-date=16 May 2016|url-status=live}}</ref><ref>{{Cite web|url=http://www.thehindubusinessline.com/economy/nk-singh-appointed-chairman-of-15th-finance-commission/article9974029.ece|title=NK Singh appointed Chairman of 15th Finance Commission|date=27 November 2017|newspaper=[[The Hindu]] Business Line|publication-place=[[New Delhi]]|access-date=15 January 2018|archive-date=16 April 2021|archive-url=https://web.archive.org/web/20210416234212/https://www.thehindubusinessline.com/economy/nk-singh-appointed-chairman-of-15th-finance-commission/article9974029.ece|url-status=live}}</ref><ref>{{Cite web|url=http://www.livemint.com/Politics/rWfJyCZBIkttQMKHXoZBHO/NK-Singh-appointed-chairman-of-15th-Finance-Commission.html|title=N.K. Singh appointed chairman of 15th Finance Commission|date=27 November 2017|website=Livemint|publisher=[[HT Media Ltd]]|publication-place=[[New Delhi]]|access-date=15 January 2018|archive-date=19 February 2018|archive-url=https://web.archive.org/web/20180219092950/http://www.livemint.com/Politics/rWfJyCZBIkttQMKHXoZBHO/NK-Singh-appointed-chairman-of-15th-Finance-Commission.html|url-status=live}}</ref>