Question

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

• A. a) 1 and 2 only
  
• B. b) 1, 2 and 3 only
  
• C. c) 1, 3 and 4 only
  
• D. d) All of the above
  

Answer 1

The correct option is A a) 1 and 2 only


Answer : A
Consolidated Fund of India (Article 266)
(a) all revenues received by the Government of India;
(b) all loans raised by the Government by the issue of treasury bills, loans or ways and means of advances; and
(c) all money received by the government in repayment of loans forms the Consolidated Fund of India

Public Account of India (Article 266)

This includes provident fund deposits, judicial deposits, savings bank deposits, departmental deposits, remittances and so on. This account is operated by executive action, that is, the payments from this account can by made without parliamentary appropriation. Such payments are mostly in the nature of banking transactions.