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Government Funds

Consider the ...

Question

Consider the following about the bills concerning the budget
1. The appropriation bill is concerned with the withdrawal from the Consolidated fund of India
2. The finance bill is concerned with the deposits into Consolidated fund of India

A

1 only

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B

2 only

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C

Both 1 and 2

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D

None of the Above

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Solution

The correct option is C Both 1 and 2
An appropriation bill is a bill that authorizes the government to withdraw funds from the Consolidated Fund of India for use during the financial year. A finance bill is used for deposits into Consolidated fund of India.

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Similar questions

Q. Consider the following about the bills concerning the budget:
1. The appropriation bill is concerned with the withdrawal from the Consolidated fund of India
2. The finance bill is concerned with the deposits into Consolidated fund of India.
Which of the above are correct?

Q. Read the following statements and choose the correct option.

(I) The Consolidated Fund of India is a government account.
(II) Money Bills controls the Consolidated Fund of India.
(III) The Cabinet has the freedom to withdraw any amount without anybody's consent.

Q. Which of the following are associated with Consolidated Fund of India :
1. All revenues received by the Government of India.
2. All loans raised by the Government by the issue of treasury bills,loans or ways and means of advances
3. Provident Fund Deposits
4.Judicial Deposits

Q.  To withdraw money from the Consolidated Fund of India:
1.Appropriation bill should be passed by both the houses.
2. President's assent to the bill is necessary
Which of the statements given above is/are correct?

Q. _______ is the permission to withdraw money from the Consolidated Fund of India till the Budget is passed.

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