Consolidated Fund of India and Various Accounts :Notes for SSC UPSC Exams 2023

Consolidated Fund of India :Study Notes for SSC UPSC Exams 2023

• Let's know what is Consolidated Fund of India?

• Which article of constitution of India deals with the consolidated Fund of India?

• Some other features of Consolidated Fund of India.

As per article 266 of constitution of India All the income received by the government of India, loans raised and taxes collected by the government of India are said to constitute a fund known as the consolidated Fund of India.

It is the largest fund of of the government of India.It is placed at the disposal of the parliament.

No money can be deposited into or withdrawn out of this fund by the executive without a prior sanction of the parliament.

Every state has its own consolidated Fund.

Public Accounts of India :Notes for SSC UPSC Exams 2023

• Let's know what is Public Accounts of India?
• Which article of the constitution of India deals with the Public Accounts of India?
• Other features of the Public Accounts of India.

As per article 266 of the constitution of India All other forms of money received by the government of India are deposited into an account known as the Public Accounts of India.

It is a constitutional fund.

Example of Public Accounts of India.

Provident funds or any of the savings of the government servants.

The public Accounts of India is at the disposal of the executive.

Every state has its own public Accounts.

Contingency fund of India:Notes for SSC UPSC Exams 2023

 Let's know all about contingency fund of India.

What is contingency fund of India?

Which article of the constitution of India deals with the contingency fund of India?

Other features of the contingency fund of India.

Article 267 of the constitution of India authorizes the parliament to create law for an emergency fund known as the contingency fund of India.

The parliament passed the contingency fund (Miscellaneous)act,1950 which created the contingency fund of India with an upper limit of Rs 50 crores.

It is placed at the disposal of the president to meet unforeseen expenditure when the parliament is not in session.

Source of contingency fund of India Notes for SSC UPSC Exams

Money so sanctioned by the by the president if approved by the parliament is subsequently transferred from the consolidated Fund to the contingency fund.

Consolidated Fund of India 
Notes for SSC UPSC Exams

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