What is the "Consolidated Fund of the State"?
The "Consolidated Fund of the State" refers to a consolidated fund formed by 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. This is mentioned in clause 266(1) of Part XII Finance, Property, Contracts and Suits Chapter I—Finance General from context provided.