What are the Consolidated Funds and public accounts of India and the States?
The Consolidated Funds and public accounts of India and the States refer to the financial resources collected by the central government and state governments, respectively. These funds are used for various expenditures and transactions carried out by these governments. The Consolidated Fund is a pool of money that is formed by collecting taxes and other revenues collected by the government, while public accounts include all other sums received by the government, not being revenues.