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The authorization for the withdrawal of funds from the Consolidated Fund of India must come from
- a)The President of India
- b)The Parliament of India
- c)The Prime Minister of India
- d)The Union Finance Minister
Correct answer is option 'B'. Can you explain this answer?
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The authorization for the withdrawal of funds from the Consolidated Fu...
Authorization for Withdrawal of Funds from Consolidated Fund of India
The Consolidated Fund of India is the main repository of the government's revenues. The authorization for the withdrawal of funds from this fund must come from the Parliament of India. Let us understand this in detail.
Role of Parliament in Authorization of Withdrawal of Funds
The Parliament of India is the supreme legislative body of the country. It has the power to make laws and regulations and oversee the government's functioning. The Constitution of India has given the Parliament the responsibility to control the government's finances. The Parliament exercises this control through the budget-making process.
The budget-making process involves the presentation of the annual budget by the Finance Minister in the Parliament. The budget contains the government's revenue and expenditure estimates for the upcoming financial year. It also includes the authorization for the withdrawal of funds from the Consolidated Fund of India.
The Parliament examines and approves the budget after due discussion and debate. Once the budget is approved, the government can withdraw funds from the Consolidated Fund of India to finance its expenditures. However, any withdrawals from this fund must be in accordance with the budgetary provisions approved by the Parliament.
Conclusion
In conclusion, the authorization for the withdrawal of funds from the Consolidated Fund of India must come from the Parliament of India. The Parliament exercises control over the government's finances through the budget-making process. The government can withdraw funds from this fund only in accordance with the budgetary provisions approved by the Parliament.
The Consolidated Fund of India is the main repository of the government's revenues. The authorization for the withdrawal of funds from this fund must come from the Parliament of India. Let us understand this in detail.
Role of Parliament in Authorization of Withdrawal of Funds
The Parliament of India is the supreme legislative body of the country. It has the power to make laws and regulations and oversee the government's functioning. The Constitution of India has given the Parliament the responsibility to control the government's finances. The Parliament exercises this control through the budget-making process.
The budget-making process involves the presentation of the annual budget by the Finance Minister in the Parliament. The budget contains the government's revenue and expenditure estimates for the upcoming financial year. It also includes the authorization for the withdrawal of funds from the Consolidated Fund of India.
The Parliament examines and approves the budget after due discussion and debate. Once the budget is approved, the government can withdraw funds from the Consolidated Fund of India to finance its expenditures. However, any withdrawals from this fund must be in accordance with the budgetary provisions approved by the Parliament.
Conclusion
In conclusion, the authorization for the withdrawal of funds from the Consolidated Fund of India must come from the Parliament of India. The Parliament exercises control over the government's finances through the budget-making process. The government can withdraw funds from this fund only in accordance with the budgetary provisions approved by the Parliament.
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The authorization for the withdrawal of funds from the Consolidated Fu...
Consolidated Fund of India is formed under the Constitution. The taxes received by government including central tax, income tax, excise tax and certain non tax revenues are credited in Consolidated Fund. All expenditures of the Govt. are incurred from this fund. Authority of Parliament is required for withdrawing any amount from this fund.
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The authorization for the withdrawal of funds from the Consolidated Fund of India must come froma)The President of Indiab)The Parliament of Indiac)The Prime Minister of Indiad)The Union Finance MinisterCorrect answer is option 'B'. Can you explain this answer?
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