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Thursday, October 27, 2011

Q. What are the Consolidated Fund of the State and the Consolidated Fund of India?

Ans. According to Article 266. there shall a Consolidated Fund of India at the Centre and a Consolidated Fund of the State in each State The Consolidated Fund of India shall consist of all moneys realized  through all revenues received by Government of India, all loans raised by that government by issue of treasury Bills, loans or ways and means advances and all moneys received by that government in repayment of loans,
Similarly, all revenues received by the Government of a State, all loans raised by that government by the issue of treasury Bills, loans or ways and means advances and all moneys received by that government in repayment of loans shall form part of the ‘Consolidated Fund of the State’.
As per the provisions of Article 112, the following expenditure shall be expenditure charged on the Consolidated Fund of India
(i) the emoluments and allowances of the President and other expenditure relating to his office;
(ii) the salaries and allowances of the Chairman and the Dy. Chairman of the Council of States and the Speaker and Dy Speaker of the House of the People;
(iii) debt charges for which Government of India is liable including interests, sinking fund charges and redemption charges, and other expenditure relating to the raising of loans and the service and redemption of debt;
(iv) the salaries and pensions pay able in respect to judges of the Supreme Court and High Courts;
(v) the salary and pension ‘payable to the Comptroller and Auditor General of India;
(vi) any sums required to satisfy any judgment, decree or award of any court or arbitral tribunal; and
(vii) any other expenditure declared by this Constitution or by Parliament by law so charged.
The significance of any expenditure charged upon the Consolidated Fund of India is that such expendiure becomes non-votable part of the Budget, which is not subject to the votes of Parliament and thus it cannot ,e reduced through cut motions.
As per the provisions of Article 267(3), no amount of money can be withdrawn fm the Consolidated Fund of India or of a State except for the purposes and through the proced ure prescribed by the Constitution or law.

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