1) The Consolidated Fund of the State is defined under Article 266.
2) The Contingency Fund of the State is operated by the Governor in accordance with rules made by the State Legislature.
Analysis of Statements on State Funds
The question asks to identify the correct statements regarding State Funds under the Indian Constitution.
Statement 1: Consolidated Fund of the State
- The Consolidated Fund of the State is established under the provisions related to public moneys.
- Article 266 of the Indian Constitution deals with the Consolidated Funds and Public Accounts of India and of the States. It mandates that all revenues received, loans raised, and moneys received in repayment of loans by the Government of India or the Government of a State shall be credited to the Consolidated Fund.
- Therefore, the definition and provisions concerning the Consolidated Fund of the State are indeed covered under Article 266. This statement is correct.
Statement 2: Contingency Fund of the State
- The Contingency Fund of the State acts as an imprest fund to meet urgent unforeseen expenditure.
- This fund is established and operated under Article 267 of the Constitution, which allows State Legislatures to establish such a fund.
- The fund is placed at the disposal of the Governor, who can authorize advances from it, subject to rules made by the State Legislature.
- Hence, the operation of the Contingency Fund by the Governor, following rules set by the State Legislature, is accurate. This statement is correct.
Conclusion
Both statement 1 and statement 2 are correct.
The correct option is C: Both 1 and 2.
Similar Questions
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The ______ List in Schedule VII deals solely with matters of national importance like defence and foreign affairs. - The Uniform Civil Code (UCC) primarily aims to:
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Who among the following introduced the ‘Objective Resolution’ in the Constituent Assembly on 13 th December, 1946?
- Which one of the following is correct in respect of total number of States and Union Territories in India?
- Who among the following American Presidents described democracy as "Government of the People, for the People and by the People"?
- The real beginning of western education in India can be dated from
Which one of the following is included in Article 51A (Part-IV A) of the Constitution of India?
