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Showing posts from 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 …