Table of Contents
How much money is there in Consolidated Fund of India?
Its corpus is Rs. 500 crores. It is in the nature of an imprest (money maintained for a specific purpose). The Secretary of, Finance Ministry holds this fund on behalf of the President of India.
What does the Consolidated Fund of India include?
Definition: Consolidated Fund of India is the most important of all government accounts. All revenues received by the government by way of direct taxes and indirect taxes, money borrowed and receipts from loans given by the government flow into the Consolidated Fund of India.
Who get salary from Consolidated Fund of India?
Salaries and allowances of the Chairman and the Deputy Chairman of the Rajya Sabha and the Speaker and the Deputy Speaker of the Lok Sabha. Salaries, allowances and pensions of the judges of the Supreme Court. Pensions of the judges of high courts.
How much money is in Consolidated Fund of India Quora?
And government needs parliament’s approval to spend money from this fund. Why? Because Article 266 say so.
Who are paid from Contingency Fund of India?
the President
Definition: Contingency Fund is created as an imprest account to meet some urgent or unforeseen expenditure of the government. Description: This fund was constituted by the government under Article 267 of the Constitution of India. This fund is at the disposal of the President.
Which bank maintains Consolidated Fund of India?
The Reserve Bank of India Act, 1934 requires the Central Government to entrust the Reserve Bank with all its money, remittance, exchange and banking transactions in India and the management of its public debt. The Government also deposits its cash balances with the Reserve Bank.
How many divisions are available in the Consolidated Fund of India?
five parts
The Consolidated Fund of India is divided into five parts namely: Revenue account (receipts) Revenue account (disbursements) Capital account (receipts)
How many funds are there in India?
There are 44 asset management companies (AMCs) or mutual fund houses operating in India….List of mutual fund companies in India.
| Category | Name of the fund |
|---|---|
| Equity Funds | BNP Paribas Large Cap Fund BNP Paribas Long Term Equity Fund BNP Paribas Multi Cap Fund BNP Paribas Midcap Fund BNP Paribas Focused 25 Equity Fund BNP Paribas India Consumption Fund |
How is CAG removed?
Removal. The CAG can be removed only on an address from both houses of parliament on the ground of proved misbehaviour or incapacity. The CAG vacates the office on attaining the age of 65 years or 6-year term, whichever is earlier or by impeachment process.