Q135: GPSC Prelims 2023 GS: Previous Year Question with Answer

Evaluate the statements. 1. ARTICLE 268: Consolidated Funds and public accounts of India. (1) All revenues received by the Government of India, all loans raised by that Government and all moneys received by that Government in repayment of loans shall form one consolidated fund to be entitled “the Consolidated Fund of India”, (2) All other public moneys received by or on behalf of the Government of India or the Government of a State shall be credited to the public account of. (3) No moneys out of the Consolidated Fund of India, shall be appropriated except in accordance with law and for the purposes and in the manner provided in this Constitution. 2. ARTICLE 269: Contingency Fund. (1) Parliament may by law establish a Contingency Fund in the nature of an imprest to be entitled “the Contingency Fund of India” into which shall be paid from time to time such sums as may be determined by such law, and the said Fund shall be placed at the disposal of the President to enable advances to be made by him out of such Fund for the purposes of meeting unforeseen expenditure pending authorization of such expenditure by Parliament.