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Funds belonging to the Government of India are kept in-
Question

Funds belonging to the Government of India are kept in-

A.

Public Account of India

B.

Consolidated fund of India

C.

All of the options

D.

Contingency Fund of India

Correct option is C


Funds belonging to the Government of India are kept in all of the options:
Consolidated Fund of India: This is the most significant of all government accounts, where all revenues received by the government, loans raised by it, and receipts from recoveries of loans are credited. The government requires parliamentary approval to withdraw funds from this account.
Public Account of India: This account includes transactions where the government acts as a
banker, such as provident funds, small savings, and other deposits. Funds from this account can be withdrawn without parliamentary approval.
Contingency Fund of India: This is an emergency fund used for unforeseen expenditures. The government can draw funds from this account without prior approval from Parliament, but the amount must be subsequently approved and replenished by Parliament.

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