Tag: Public Accounts of India

Indian Consolidated Fund The Consolidated Fund of India is the account to which all inflows and outflows are recorded. The Consolidated Fund of India was formed by Article 266(1) of the Indian Constitution. The Indian Constitution makes reference to the Public Accounts of India (Article 266), the Contingency Fund of India (Article 267), and the Consolidated Fund of India (Article 266) as three separate types of central government finances. Indian Consolidated Fund Meaning The whole of the Government of India's receipts from income tax, Customs, central excise, and other sources, as well...