What is the role of the President in relation to the custody, etc., of Consolidated Funds, Contingency Funds, and moneys credited to public accounts?
The role of the President in relation to the custody, etc., of Consolidated Funds, Contingency Funds, and moneys credited to public accounts is to regulate these matters by rules made by the President, until provision in that behalf is made by Parliament through a law. The President can also provide for the manner in which the proceeds of any duty or tax are to be calculated, for the time from or at which and the manner in which any payments are to be made, for the making of adjustments between one financial year and another, and for any other incidental or ancillary matters.