Q6) Taxes collected under which of the following articles does not form the part of consolidated fund of India.

a) Art 270

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b) Art 268

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c) Art 272

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d) Art 271

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Solution

The correct option is C
c) Art 272

Ans: C
Article 272 deals with 20 taxes which are levied, collected and retained by the state governments and hence does not become a part of consolidated fund of India.

Examples: agricultural income tax, land revenue, professional tax etc.

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Q17. 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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