PSAmaster Asked: June 25, 20212021-06-25T22:37:40+00:00 2021-06-25T22:37:40+00:00In: Public Sector Accounting Who holds Consolidated Fund of India? Who holds Consolidated Fund of India? who holds consolidated fund of india? Share Facebook Related Questions What is consolidated fund of state in India? What is Consolidated Fund in Ghana? What is consolidated fund and contingency fund? What happens when a balance sheet doesn't balance What is the most important part of the balance sheet What are the 3 golden rules of accounting What are the 5 types of accounts What are the 5 types of financial statements What are the 3 components of a balance sheet What is balance sheet account? 1 Answer Voted Oldest Recent PSAmaster 2022-03-12T00:09:54+00:00Added an answer on March 12, 2022 at 12:09 am The Indian government and each state government in India each have their own consolidated funds. For instance, Article 266 (1) of the Indian Constitution stipulates that revenues (direct and indirect taxes, money borrowed) and expenses (receipts from government loans), barring exceptional items, be included in the consolidated fund. The Comptroller and Auditor General of India check these funds and reports on how they’re being used to the right people in the right places. The budget is divided into two categories of expenditure: those “charged” against the Consolidated Fund of India and those “made” from the Consolidated Fund of India. source Reply Share Share Share on Facebook Share on Twitter Share on LinkedIn Share on WhatsApp Leave an answerCancel replyYou must login to can add an answer. Username or email* Password* Remember Me! Forgot Password?