History & Civics
Answer
All revenues received by the Government of India, all monies raised by loan and all monies received in repayment of loans shall form one consolidated fund and will be called the "Consolidated Fund of India". No monies can be issued out of this Fund except in accordance with a law made by Parliament. However, certain expenditure charged upon the Consolidated Fund of India does not require the annual approval of Parliament.
Related Questions
Mention any one circumstance under which the Union Parliament may make laws on subjects in the State List.
How does the Union Parliament exercise control over the National Finance?
Which part of the Budget is not put to vote in the Parliament?
Or
Name any two expenditures charged on the Consolidated Fund of India.Mention two ways in which the Lok Sabha exercises control over the Executive (the Union Council of Ministers).