Annual Financial Statement

The Annual Financial Statement (AFS) is a document that the President of India presents to Parliament each year as part of the Budget process. It is required under Article 112 of the Constitution of India. The AFS is a statement of the government's estimated receipts and expenditures for the financial year, which runs from April 1 to March 31. The AFS is broken down into three parts: Consolidated Fund of India, Contingency Fund of India, and Public Account of India.