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Question
From which source does money flow into the Consolidated Fund of India?
From which source does money flow into the Consolidated Fund of India?
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Solution
The correct option is A Fresh loans
All revenues received by Government by way of taxation like income-tax, central excise, custom, land revenue whereas other receipts flowing to Government in connection with the conduct of Government business like receipts from Railways, Posts, Transport etc. are credited into the Consolidated Fund. All loans raised by Government by issue of Public notifications, treasury bills and loans obtained from foreign governments and international monetary institutions and all moneys received by Government in repayment of loans and interest thereon are also credited into this Fund. All expenditure incurred by the Government for the conduct of its business including repayment of internal and external debt and release of loans to States/Union Territory Governments for various purposes is debited against this Fund.
All revenues received by Government by way of taxation like income-tax, central excise, custom, land revenue whereas other receipts flowing to Government in connection with the conduct of Government business like receipts from Railways, Posts, Transport etc. are credited into the Consolidated Fund.
All loans raised by Government by issue of Public notifications, treasury bills and loans obtained from foreign governments and international monetary institutions and all moneys received by Government in repayment of loans and interest thereon are also credited into this Fund.
All expenditure incurred by the Government for the conduct of its business including repayment of internal and external debt and release of loans to States/Union Territory Governments for various purposes is debited against this Fund.
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