Indian Polity • Parliament & ExecutiveEasy
Which of the following funds is legally defined under Article 266(1) of the Indian Constitution, into which all revenues received by the Government of India are credited?
A. Contingency Fund of India
B. Public Account of India
C. Consolidated Fund of India✓ Correct Answer
D. National Investment Fund
💡 Solution & Explanation
Article 266(1) of the Constitution mandates the establishment of the Consolidated Fund of India, into which all government revenues, loans raised, and receipts from taxes are paid. Money can be withdrawn from this fund only in accordance with parliamentary appropriation acts. Public accounts and contingency funds are governed separately under Articles 266(2) and 267 respectively.
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