Accounts of the Government of India
Government accounts are kept in the following three parts:-
1. CONSOLIDATED FUND OF INDIA:
All revenues received by Government by way of taxation like income-tax, central excise, custom, land revenue (tax revenues) and other receipts flowing to Government in connection with the Government businesses like receipts from Railways, Posts, Transport etc. (non-tax revenues) are credited into the Consolidated Fund. Similarly, all loans raised by Government by issue of Public notifications, treasury bills
