Which of the Following form the Consolidated Fund All the Revenues recieved by the Government L...........

Economic Affairs Public Finance and Debt Management

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Which of the Following form the Consolidated Fund

All the Revenues recieved by the Government.
Loans raised by Government
Receipts from recoveries of Loans granted by Government.

Select the correct statement.

1&2 only

2&3 only

1&3 only

All of the above

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Explanation:

The Consolidated Fund of India includes revenues, which are received by the government through taxes and expenses incurred in the form of borrowings and loans.

It represents one of the three parts of the Annual Financial Statement with the other two: the Contingency Fund and Public Account.
All government expenditures are met by consolidated funds except a few made by contingency fund or public fund.
The Consolidated Fund of India was created under Article 266 of the Constitution. It is also considered as the most important part of the financial statement. Similar to the Centre, every state has its own Consolidated Fund as well.

Hence all statements are correct.