The Consolidated Fund of India is a fund in which........

Indian Polity Indian Parliament

The Consolidated Fund of India is a fund in which

all taxes collected by the Union as well as state governments are deposited

all money received by or on behalf of the government of India is deposited

the Union as well as state governments make equal contribution to this fund and out of this, all charged expenses are met

savings of the Union and state governments are deposited to meet unforeseen expenses

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Explanation:

2nd statement is correct.

Under Article 266 (1) of the Constitution of India, all revenues ( example tax revenue from personal income tax, corporate income tax, customs and excise duties as well as non-tax revenue such as licence fees, dividends and profits from public sector undertakings etc. ) received by the Union government as well as all loans raised by issue of treasury bills, internal and external loans and all moneys received by the Union Government in repayment of loans shall form a consolidated fund entitled the 'Consolidated Fund of India' for the Union Government.