Frequent question: Who has control over the issue of money from the Consolidated Fund of India?

Who has control over Consolidated Fund of India?

Comptroller. The comptroller (who is also auditor general and head of the National Audit Office) controls both the Consolidated Fund and the National Loans Fund.

Who controls the issue of money?

To ensure a nation’s economy remains healthy, its central bank regulates the amount of money in circulation. Influencing interest rates, printing money, and setting bank reserve requirements are all tools central banks use to control the money supply.

Who controls Consolidated Fund of state?

The Governor of the State.

Who is Comptroller and Auditor General?

Murmu is the current CAG of India. He assumed office on 8 August 2020.

Comptroller and Auditor General of India
Incumbent Girish Chandra Murmu, IAS since 8 August 2020
Abbreviation CAG
Reports to President of India

Who is the custodian of the Federal Consolidated Fund?

The Public Finance Management Act 2019 has been enacted to strengthen management of public finances in Federal Government. Section 22 OT the Act provides that custody and operation of Federal Consolidated Fund and Public Account of Federation shall vest in the Finance Division under supervision of Federal Government.

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Who are the suppliers of money in India Class 12?

These are the three main suppliers of money who regulate the supply of money in the economy:

  • Government.
  • Central Bank ( Reserve Bank of India)
  • Other commercial banks.

Who holds public account of India?

The Secretary to the Government of India, Ministry of Finance, Department of Economic Affairs holds the fund on behalf of the President of India.

What is consolidated and Contingency Fund of India?

The Consolidated Fund of India is created by inflow of tax funds and non-tax revenues to be paid to the Government. … Contingency Fund of India is a Rs. 500 crore fund sanctioned in the budget for contingent expenditure of unforeseen nature.

What is Consolidated Fund of state in India?

Constituted under Article 266(1) of the Indian Constitution, the Consolidated Fund of India is the account of the revenue the Government of India receives — via income tax, Customs, central excise and the non-tax revenue — and the expenses it makes, excluding exceptional items.