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Question
All revenues received by the Union Government by way of taxes and other receipts for the conduct of Government business are credited to the ________________.
All revenues received by the Union Government by way of taxes and other receipts for the conduct of Government business are credited to the ________________.
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Solution
The correct option is C Consolidated Fund of India
Option C is the correct answer. All revenues received by the Union Government by way of taxes and other receipts for the conduct of Government business are credited to the Consolidated Fund of India. Consolidated Fund of India is the most important of all government accounts. This fund was constituted under Article 266 (1) of the Constitution of India. All revenues received by the government by way of direct taxes and indirect taxes, money borrowed and receipts from loans given by the government flow into the Consolidated Fund of India.
Option C is the correct answer. All revenues received by the Union Government by way of taxes and other receipts for the conduct of Government business are credited to the Consolidated Fund of India. Consolidated Fund of India is the most important of all government accounts. This fund was constituted under Article 266 (1) of the Constitution of India. All revenues received by the government by way of direct taxes and indirect taxes, money borrowed and receipts from loans given by the government flow into the Consolidated Fund of India.
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