Is salary of president charged on the Consolidated Fund of India?
Charged Expenditures on Consolidated Fund of India
These charges have to be paid whether the Budget is passed or not. The expenses under this category include salaries and allowances of: the President. the Speaker.
Who has the custody of Consolidated Fund of India?
That is why Parliament which is Union legislature in India, is called custodian of Consolidated Fund of India.
Who receives salary as charged expenditure?
Charged expenditure includes the emoluments of the President and the salaries and allowances of the Chairman and Deputy Chairman of Rajya Sabha and the Speaker and Deputy Speaker of Lok Sabha, Judges of Supreme Court, Comptroller and Auditor General of India and certain other items specified in the Constitution of …
What are drawn from the Consolidated Fund of India?
All revenues received by the Government by way of taxes like Income Tax, Central Excise, Customs and other receipts flowing to the Government in connection with the conduct of Government business i.e. Non-Tax Revenues are credited into the Consolidated Fund constituted under Article 266 (1) of the Constitution of India …
Who provides pm salary?
Compensation and benefits. Article 75 of the Constitution of India confers the parliament with the power to decide the remuneration and other benefits of the prime minister and other ministers are to be decided by the Parliament. and is renewed from time to time.
What does Article 112 say?
(1) The President shall in respect of every financial year cause to be laid before both the Houses of Parliament a statement of the estimated receipts and expenditure of the Government of India for that year, in this Part of this Constitution referred to as the “annual financial statement”.
What is Article 150 Indian Constitution?
Article 150 – Form of Accounts of The Union and of The States. The accounts of the Union and of the States shall be kept in such form as the President may, on the advice of the Comptroller and Auditor-General of India, prescribe.
Who controls contingency fund?
It is in the nature of an imprest (money maintained for a specific purpose). Accordingly, Parliament enacted the contingency fund of India Act 1950. The fund is held by the Finance Secretary (Department of Economic Affairs) on behalf of the President of India and it can be operated by executive action.
Who holds public account of India?
The Public Account of India was constituted by Article 266(2) of the Indian Constitution which states that “All 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.” …
What is difference between Consolidated Fund and contingency fund?
The consolidated Fund has further been divided into ‘Revenue’ and ‘Capital’ divisions. All other moneys received by or on behalf of Government are credited to the Public Account. Contingency Fund enables the Government to meet unforeseen expenditure, which cannot wait approval of the Parliament.
What is the meaning of Consolidated Fund?
All revenues received by the government by way of direct taxes and indirect taxes, money borrowed and receipts from loans given by the government flow into the Consolidated Fund of India. …