Who holds Consolidated Fund of India?
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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.
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