Constitution of India, 1949
266.Consolidated Funds and public accounts of
India and of the States.-
(1) Subject to the provisions of Article 267
and to the provisions of this Chapter with respect to the assignment of the
whole or part of the net proceeds of certain taxes and duties to States, all
revenues received by the Government of India, 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 shall form one
consolidated fund to be entitled "the Consolidated Fund of India",
and 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 shall
form one consolidated fund to be entitled "the Consolidated Fund of the
State".
(2) All other public moneys received by or on
behalf of the Government of India or the Government of a State shall be
entitled to the public account of India or the public account of the State, as
the case may be.
(3) No moneys out of the Consolidated Fund of
India or the Consolidated Fund of a State shall be appropriated except in
accordance with law and for the purposes and in the manner provided in this
Constitution.