Consolidated fund of India
Consolidated
fund of India means, all the revenues, taxes are deposited in the consolidated
fund of India. The salaries for President,Vice-president,judges of supreme court,
Chairman of CAG,Election commission chairman etc., are drawn from the
consolidated fund of India. The money withdrawn from this are approval by the
parliament by passing the Appropriation bill. No money cannot be withdrawn from
the consolidated fund of India without passing bill in Parliament, every paisa
has the accountability drawn from the fund.
Public account of India
The amount from
the public account account of India can be withdrawn without passing a bill in
the parliament, it needs bureaucratic transaction in the banking. It meets with
the usage of public expenditure.
Contingency fund of India
It is a fund
used by the President or Governor (consolidated fund of the state) to meet the unseen fore expenditure by them.
A sum of amount can deployed as corpus fund in the contingency fund of India.
It doesn’t needs any parliament approval for withdrawn of money,it needs
banking transactions of the bureaucrats. The president or Governor where ever
else they allocate funds for development this (like MP LADS).
