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RRB Junior Engineer / DMS / CMA 2019 · Question 3564 of 3719

Funds belonging to the Government of India are kept in-

  1. APublic Account of India
  2. BConsolidated fund of India
  3. CAll of the optionsCorrect
  4. DContingency Fund of India

Answer: C. All of the options

Explanation

The correct answer isAll of the options. Important Points This Consolidated fund is filled by the Direct and indirect taxes Loans taken by the Indian government and returning of loans/interests of loans to the government by anyone/agency that has taken it. The government needs parliamentary approval to withdraw money from the Consolidated Fund. The provision for a Consolidated fund is given in Article 266(1) of the Constitution of India. The provision for the Contingency fund is given in Article 267 (1) of the Constitution of India. Its fixed corpus is Rs. 500 crores. Public Accounts of India is constituted under Article 266(2) of the Constitution. The government does not need permission to take advances from a public account.

Source: RRB JE 2019 (CBT 2) (ME) Previous Year Paper (31 Aug 2019) — prepp.in solved-paper PDF (answer key with explanations) · reliable-secondary

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