9.2.1. Consolidated Fund of India

All the revenues received by the Government by way of taxes and non-tax revenues are credited to the Consolidated Fund constituted under Article 266(1) of the Constitution of India. The inflow to this fund is by way of taxes like Income Tax, Central Excise, Customs and also non-

tax revenues, which arise to the government in connection with the conduct of its business. Loans raised by issue of treasury bills are also received in this fund. The government meets all its expenditure including loan repayments from this fund. No amount can be withdrawn from the fund without the authorization from the Parliament.