What is the significance of the Consolidated Fund of India in Indian governmental procedures?
The Consolidated Fund of India is a vital aspect in Indian governmental procedures as it represents the pool of government revenues and expenditures, distinguishes between revenue account expenditure and other expenditure, and includes various types of expenditure charged on the fund such as emoluments and allowances for certain high-ranking officials, salaries and allowances for the President, Chairman and Deputy Chairman of the Council of States, Speaker and Deputy Speaker of the House of the People, debt charges, salaries, allowances and pensions payable to Judges of the Supreme Court and Federal Court, pensions payable to Judges of certain High Courts, salary, allowances, and pension payable to the Comptroller and Auditor-General of India, any sums required to satisfy court or arbitral tribunal judgments, and any other expenditure declared by the constitution or Parliament as being charged on the fund. Additionally, this fund is not subjected to voting in Parliament, but its related estimates can be discussed in both houses of the Indian legislature.