1. Legislative Powers: Formation of laws to protect national interest is the main duty of the Parliament. The Parliament can make laws on subjects which are under the Union List and Concurrent List. The Union Parliament and state legislature both have power to make laws on subjects under concurrent list. However, in case of mutual antagonism between the laws passed by the centre and the state, the one passed by the Parliament will be valid. Parliament can also make laws on residuary subjects.
2. Financial Powers: By virtue of being the representative of the people, the Parliament has complete right on the national budget. Every year, no work related to income and expenses can be done till the Lok Sabha passes the Annual Budget presented by the Finance Minister. The Annual Budget is a book of account of national income and expenses.
3. Administrative Powers: The parliamentary system has been made by the Constitution of India. Hence, the Union Executive, i.e. Council of Ministers is answerable to the Parliament (Lok Sabha in practice). The Council of Minister continues only till it holds the confidence of the Lok Sabha. Parliament can keep control on the executive through different means.
