Funds with Government of India: UPSC Previous Year Questions (Polity)
This page lists 2 previous year UPSC Civil Services Preliminary Examination (General Studies Paper-I) questions on Funds with Government of India (Polity), asked between 2011. Choose an option to see the correct answer and the full explanation on the same page.
Showing 1–2 of 2 questions
UPSC 2011Polity · Funds with Government of India
Q1. The authorization for the withdrawal of funds from the Consolidated Fund of India must come from:
Explanation
Article 266 further says, No money out of this fund can be issued except in accordance with a parliamentary law. Thus, the authorization for the withdrawal of funds from the Consolidated Fund of India must come from the Parliament of India.
Additional insight:
Article 266 states that all receipts are credited to the Consolidated fund of India, and all payments are debited from it. All the legally authorised payments on behalf of the Government of India are made out of this fund
UPSC 2011Polity · Funds with Government of India
Q2. All revenues received by the Union Government by way of taxes and other receipts for the conduct of Government business are credited to the:
Explanation
The Consolidated Fund of India is the primary fund of the Union Government where all its revenues, including taxes, loans, and other receipts for the conduct of government business, are deposited. According to the Constitution of India, all government spending must be approved by Parliament and drawn from this fund. The accounts of Government are kept in three parts:
1. Consolidated Fund of India
2. Contingency Fund of India
3. Public Account of India
Consolidated Fund of India (Article 266)
Public Account of India (Article 266)
Contingency Fund of India (Article 267)
A fund to which all receipts are credited and all payments are debited. All the legally authorised payments on behalf of the Government of India are made out of this fund. No money out of this fund can be issued except in accordance with a parliamentary law.
All public money other than those credited to the Consolidated Fund of India is credited here. It includes provident fund deposits, judicial deposits, savings bank deposits, departmental deposits, remittances and so on. It is operated by executive action.
Amounts determined by Parliament by law are paid from time to time into this fund. The fund is placed at the disposal of the President, who can make advances out of it to meet unforeseen expenditure. It is held by the Finance Secretary on behalf of the President and is operated by executive action.
Answer key for these questions
Q
UPSC year
Correct answer
1
2011
(b) The Parliament of India
2
2011
(c) Consolidated Fund of India
Frequently asked questions
How many previous year UPSC questions are there on Funds with Government of India?
This page covers 2 previous year UPSC Prelims GS Paper-I questions on Funds with Government of India (Polity), asked between 2011. Each has the correct answer and an explanation.
How should I use previous year UPSC questions for Prelims?
Attempt each question first, then open the answer and read the explanation for every option. Repeat by chapter, and track which statements UPSC reuses across years. Previous year questions show the exam pattern and difficulty level.
Which years are covered for Funds with Government of India?
Questions on Funds with Government of India (Polity) are available for 1 years, from 2011 to 2011. Use the Year filter to practise a single paper.
