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 No amount can be withdrawn from the Consolidated Fund of India without the authorization from the Parliament of India.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

1. Incorrect. The Union Budget is prepared by the Department of Economic Affairs, Ministry of Finance, not the Department of Revenue. Revenue deals mainly with taxation matters.

2. Correct. Under Article 266, no money can be withdrawn from the Consolidated Fund of India except under appropriation made by law, i.e. with Parliament’s authorization.

3. Incorrect. Money in the Public Account of India does not require parliamentary appropriation for withdrawal; it includes funds like provident funds and small savings held by the government in trust.

Therefore, only statement 2 is correct.