ICSE Class 10 Answered
WHAT IS CONSOLIDATED FUND?
Asked by ashutea7 | 11 Feb, 2019, 05:15: PM
Expert Answer
The Consolidated Fund of India is the account maintained by the government of India. Revenues earned by the government of India such as taxes, borrowings and receipts from lending activities flow into the consolidated fund of India. The revenue recorded in this account are used for government expenditure except certain exceptional ones. These exceptional expenditures of the government are met from the contingency fund. Money can be withdrawn from the consolidated fund only with the approval of the parliament.
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