WBCS.LIVE practice question

All revenues received by the Union government by way of direct and indirect taxes, money borrowed and receipts from loans given by the government flow into:

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. The Public Accounts of India.
  2. The Consolidated Fund of India.
  3. The Contingency Fund of India.
  4. None of the above

Correct answer and explanation

Correct answer: The Consolidated Fund of India.

Explanation: These revenues flow into the Consolidated Fund of India (Article 266). 📚 Other Information: ▪️ The most important fund of the Government of India. ▪️ No money can be withdrawn without Parliament’s approval. ▪️ Includes revenue receipts, capital receipts, and loans.