The Consolidated Fund of India is a common pool in which ........

Indian Polity Indian Parliament

The Consolidated Fund of India is a common pool in which

All taxes collected by the Government of India are deposited

Equal contributions from the Centre and states are made and out of which money can be taken as loan to meet unforeseen contingencies.

All money received by or on behalf of the Government of India in the shape of revenue, fresh loans and money received in repayment of loans etc, are deposited

States, union territories and the Central Government contribute 10 per cent of their revenues

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Explanation:

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.