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
1 only
2
2 only
3
Both 1 and 2
4
Neither 1 nor 2

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