Discussion
All revenues received by Government, Loans raised by it, and also its receipts from recoveries of loans granted are part of:
Answer: C
The Consolidated Fund of India holds all revenues received by the government, the loans it raises (by treasury bills, loans or ways and means advances) and its receipts from the recoveries of loans given. The Contingency Fund is for urgent unforeseen expenditure, and the Public Account holds money received in trust or as deposits. The answer is the Consolidated Fund of India, option C. The Public Account holds funds the government keeps as a banker, such as provident funds, and the Contingency Fund is a revolving fund of limited size.
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