Financial Grants

Consider the following statements with reference to Financial Grants:

  1. Supplementary grant is granted when the amount authorised by the Parliament through the appropriation act for a particular service for the current financial year is found to be insufficient for that year.
  2. Additional grant is granted when a need has arisen during the current financial year for additional expenditure upon some new service not contemplated in the budget for that year.
  3. Token grant is granted when funds to meet the proposed expenditure on a new service can be made available by re-appropriation.

Which of the statement(s) given above is/are correct? Choose the correct answer from the codes given below:

1 and 2
2 and 3
1 and 3
1, 2 and 3