- Statement 1 is incorrect: Article 268 deals with "Duties levied by the Union but collected and appropriated by the States". The description provided in statement 1 corresponds to Article 266, which deals with the Consolidated Funds and Public Accounts of India and the States. - Statement 2 is incorrect: Article 269 deals with "Taxes levied and collected by the Union but assigned to the States". The description provided in statement 2 corresponds to Article 267, which deals with the Contingency Fund of India and the Contingency Fund of a State.
Evaluate the statements. 1. ARTICLE 268: Consolidated Funds and public accounts of India. (1) 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 monies received by that Government in repayment of loans shall form one consolidated fund to be entitled “the Consolidated Fund of India”, (2) All other public moneys received by or on behalf of the Government of India or the Government of a State shall be credited to the public account of. (3) No moneys out of the Consolidated Fund of India shall be appropriated except in accordance with law and for the purposes and in the manner provided in this Constitution. 2. ARTICLE 269: Contingency Fund. (1) Parliament may by law establish a Contingency Fund in the nature of an imprest to be entitled “the Contingency Fund of India” into which shall be paid from time to time such sums as may be determined by such law, and the said Fund shall be placed at the disposal of the President to enable advances to be made by him out of such Fund for the purposes of meeting unforeseen expenditure pending authorization of such expenditure by Parliament.
Asked in GPSC Prelims CSP 1 2023 · Topic: Articles of the Constitution (Articles related to the Union and State Judiciary)
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Answer: D. both (1) and (2) are not correct
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