Define Consolidated Fund of India?
Ans. Subject to the provisions of Article 267, all revenues received by the Government of India, all loans raised by that Government by the issue of Treasury bills, loans or ways and means advances and all moneys received by that Government in repayment of loads shall form one consolidated fund to be entitled “ the Consolidated Fund of India” and all revenues received by the Government of a state, all loans raised by that Government by the issue of Treasury bills, loans or ways and means advances and all moneys received by that Government in repayment of loans shall form one Consolidated fund to be entitled “the Consolidated Fund of the State”.
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