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Page 1 Centre-State Financial Relations Capstone IAS Learning Page 2 Centre-State Financial Relations Capstone IAS Learning What will we cover Different funds under Central and State Governments. 101st Constitutional Amendment Act[GST] Grants given by Centre to States. Finance Commission Various other provisions with respect to ?nancial relations between Centre and States. Page 3 Centre-State Financial Relations Capstone IAS Learning What will we cover Different funds under Central and State Governments. 101st Constitutional Amendment Act[GST] Grants given by Centre to States. Finance Commission Various other provisions with respect to ?nancial relations between Centre and States. Different types of Funds Article 266 [Consolidated Funds and Public Account] (1) Subject to the provisions of article 267 and to the provisions of this Chapter with respect to the assignment of the whole or part of the net proceeds of certain taxes and duties to States, all revenues received by the Government of India, all loans raised by that Government by the issue of treasury bills, loans or ways and means advances and all moneys received by that Government in repayment of loans shall form one consolidated fund to be entitled “the Consolidated Fund of India”, and all revenues received by the Government of a State, all loans raised by that Government by the issue of treasury bills, loans or ways and means advances and all moneys received by that Government in repayment of loans shall form one consolidated fund to be entitled “the Consolidated Fund of the State”. Page 4 Centre-State Financial Relations Capstone IAS Learning What will we cover Different funds under Central and State Governments. 101st Constitutional Amendment Act[GST] Grants given by Centre to States. Finance Commission Various other provisions with respect to ?nancial relations between Centre and States. Different types of Funds Article 266 [Consolidated Funds and Public Account] (1) Subject to the provisions of article 267 and to the provisions of this Chapter with respect to the assignment of the whole or part of the net proceeds of certain taxes and duties to States, all revenues received by the Government of India, all loans raised by that Government by the issue of treasury bills, loans or ways and means advances and all moneys received by that Government in repayment of loans shall form one consolidated fund to be entitled “the Consolidated Fund of India”, and all revenues received by the Government of a State, all loans raised by that Government by the issue of treasury bills, loans or ways and means advances and all moneys received by that Government in repayment of loans shall form one consolidated fund to be entitled “the Consolidated Fund of the State”. (2) All the other public moneys received by or on behalf of the Government of India or the Government of a State shall be credited to the public account of India or the public account of the State, as the case may be. (3) No moneys out of the Consolidated Fund of India or the Consolidated Fund of a State shall be appropriated except in accordance with law and for the purposes and in the manner provided in this Constitution. Page 5 Centre-State Financial Relations Capstone IAS Learning What will we cover Different funds under Central and State Governments. 101st Constitutional Amendment Act[GST] Grants given by Centre to States. Finance Commission Various other provisions with respect to ?nancial relations between Centre and States. Different types of Funds Article 266 [Consolidated Funds and Public Account] (1) Subject to the provisions of article 267 and to the provisions of this Chapter with respect to the assignment of the whole or part of the net proceeds of certain taxes and duties to States, all revenues received by the Government of India, all loans raised by that Government by the issue of treasury bills, loans or ways and means advances and all moneys received by that Government in repayment of loans shall form one consolidated fund to be entitled “the Consolidated Fund of India”, and all revenues received by the Government of a State, all loans raised by that Government by the issue of treasury bills, loans or ways and means advances and all moneys received by that Government in repayment of loans shall form one consolidated fund to be entitled “the Consolidated Fund of the State”. (2) All the other public moneys received by or on behalf of the Government of India or the Government of a State shall be credited to the public account of India or the public account of the State, as the case may be. (3) No moneys out of the Consolidated Fund of India or the Consolidated Fund of a State shall be appropriated except in accordance with law and for the purposes and in the manner provided in this Constitution. Article 267 [Contingency Fund] (1) Parliament may by law establish a Contingency Fund in the nature of an imprest to be entitled “the Contingency Fund of India” into which shall be paid from time to time such sums as may be determined by such law, and the said Fund shall be placed at the disposal of the President to enable advances to be made by him out of such Fund for the purposes of meeting unforeseen expenditure pending authorisation of such expenditure by Parliament by law under article 115 or article 116. (2) The Legislature of a State may by law establish a Contingency Fund in the nature of an imprest to be entitled “the Contingency Fund of the State” into which shall be paid from time to time such sums as may be determined by such law, and the said Fund shall be placed at the disposal of the Governor 1 ***of the State to enable advances to be made by him out of such Fund for the purposes of meeting unforeseen expenditure pending authorisation of such expenditure by the Legislature of the State by law under article 205 or article 206.Read More
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1. What is the concept of center-state relations in India? |
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4. What are the sources of revenue for the central government and state governments in India? |
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