Funds belonging to the Government of India are kept in ______________.

Consolidated Fund of India

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Public Accounts Fund of India

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Contingency Fund of India

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All of the above

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Solution

The correct option is A 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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Similar questions

Q2. Consider the following statements related to National Investment and Infrastructure Fund (NIIF):

1. NIIF is registered with SEBI as Category II Alternative Investment Fund (AIF).

2. The Purpose of the fund is to receive disinvestment proceeds of central public sector enterprises.

3. 5% of the total funds collected in it becomes a part of Consolidated Fund of India.

Which of the above statement(s) is/are correct?

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