What is the Consolidated Fund of India and the Consolidated Fund of a State?
According to Article 266, the Consolidated Fund of India consists of all revenues received by the Government of India, loans raised by the Government, and moneys received in repayment of loans. Similarly, the Consolidated Fund of a State comprises all revenues received by the State Government, loans raised by the State Government, and moneys received in repayment of loans. These funds are used for government expenditure, and no money can be appropriated from these funds without following the procedures and purposes specified in the Constitution.