Article 266 of CoI : Article 266: Consolidated Funds and public accounts of India and of the States.

Explanation using Example

Example 1:

Scenario: The Government of India receives revenue from income tax collections and issues treasury bills to raise funds for infrastructure projects.

Application:

1. All income tax revenues collected by the Government of India are deposited into the Consolidated Fund of India.
2. The funds raised through the issuance of treasury bills are also deposited into the Consolidated Fund of India.
3. Any repayment of loans given by the Government of India to other entities is credited back to the Consolidated Fund of India.
4. These funds can only be used for government expenditures as per the laws and procedures outlined in the Constitution.

Example 2:

Scenario: The Government of Maharashtra receives revenue from state sales tax and raises a loan through treasury bills to fund a new highway project.

Application:

1. All sales tax revenues collected by the Government of Maharashtra are deposited into the Consolidated Fund of the State of Maharashtra.
2. The funds raised through the issuance of treasury bills for the hig...

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