All revenues received by the Union Government by way of taxes and other receipts for the conduct of Government

Question

All revenues received by the Union Government by way of taxes and other receipts for the conduct of Government business are credited to the

Accepted Answer

The Consolidated Fund of India is the fund into which all revenues of the government, including taxes and interest receipts, are deposited. Expenditures from this fund require parliamentary approval. The Contingency Fund acts as an imprest account for unforeseen expenditures, while the Public Account handles funds held by the government in trust, not as its own revenue.