Salary and allowances of the speakers of the Lok Sabha is not charged on the consolidated fund of India.
Which expenditure are charged on the Consolidated Fund of India?
The list of the charged expenditure is: Emoluments and allowances of the President and other expenditure relating to his office. Salaries and allowances of the Chairman and the Deputy Chairman of the Rajya Sabha and the Speaker and the Deputy Speaker of the Lok Sabha.
Is salary of MP charged on Consolidated Fund of India?
They are charged on the Consolidated Fund of India and are not subject to the annual vote of Parliament. The Speaker and the Deputy Speaker of the Lok Sabha and the Deputy Chairman of the Rajya Sabha, are entitled to receive a salary same as are payable to the Members of Parliament.
Is pension of President charged on Consolidated Fund of India?
Pensions to be charged on the Consolidated Fund of India:- Any sum payable under this Act shall be charged on the Consolidated Fund of India.
What is meant by Consolidated Fund of India Name any two expenditures charged on it?
Two expenses charged to it are: Salary and Allowances of the President, Speaker / Deputy Speaker of Lok Sabha, Chairman/ Deputy Chairman of Rajya Sabha, Salaries and Allowances of Supreme Court judges, Pensions of Supreme Court as well as High Court Judges, Salaries and Allowances of CAG, Lok Pal.
What are charged expenditures?
Charged expenditure means such expenditure as is not subject to the vote of the Legislative Assembly and is declared to be charged on the Consolidated Fund of the State under the provisions of the Constitution of India or by the Legislature of the State by law.
What is Consolidate Fund of India?
Constituted under Article 266(1) of the Indian Constitution, the Consolidated Fund of India is the account of the revenue the Government of India receives — via income tax, Customs, central excise and the non-tax revenue — and the expenses it makes, excluding exceptional items.
What Consolidated Fund?
Definition: Consolidated Fund of India is the most important of all government accounts. 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. …
What is Federal Consolidated Fund?
Federal Consolidated Fund means the consolidated fund of which all revenues received and all loans raised by the Federal Government, and all moneys received by the Federal Government in repayment of any loan, form part.
What is consolidated fund of state?
9. Consolidated Fund of the State means the fund into which all revenue received by the Government of the State, loans raised by the Government by the issue of.
Is GST part of Consolidated Fund of India?
What goes into Consolidated Fund of India? All the government revenue generated from taxes, asset sale, earnings from state-run companies, etc go into the Consolidated Fund of India. … Revenue earned in direct taxes such as income tax, corporate tax, etc. Revenue earned in indirect taxes such as GST.
What is consolidated and contingency fund?
The Consolidated Fund of India is created by inflow of tax funds and non-tax revenues to be paid to the Government. … Contingency Fund of India is a Rs. 500 crore fund sanctioned in the budget for contingent expenditure of unforeseen nature.
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”.
When can the parliament not legislate on subjects included in the state list?
During a National Emergency: The Parliament acquires the power to legislate with respect to matters in the State List, while a proclamation of national emergency is in operation. The laws become inoperative on the expiration of six months after the emergency has ceased to operate.
What is Consolidated Fund of India Class 10 ICSE?
Answer: ‘The Consolidated Fund of India’ implies, all revenues received by the Government of India, all money raised by loan and all money received in repayment of loans shall form one Consolidated Fund.