President Salary From Consolidated Fund Of India

The Secretary of Finance Ministry holds this fund on behalf of the President of India. This fund is used to meet unexpected or.

From Which Fund Of India Does The Pm Get His Salary Quora

It comes under the Presidents Emoluments Pension Act 1951.

President salary from consolidated fund of india. Chief Election Commissioner draws hisher salary from _____. The pension paid to him after retirement from office is 50 of his salary. C National Loans Fund.

So yes it was sourced from consolidated fund. The salary of the President of India is charged from the Consolidated Fund of India. THE PRESIDENTS 1EMOLUMENTS AND PENSION ACT 1951 30 OF 1951.

This rule also applies to any other employee in the country. D Public Accounts Committee. 2 Every rule made by the Central Government under this Act shall be laid as soon as may be after it is made before each.

It was defined as one fund into which shall flow every stream of public revenue and from which shall come the supply of every service. The Presidents salary is charged from the Consolidated Fund of India which is the kitty into which all tax and revenues of the government flow. Consolidated fund of India is the most important government account.

A Consolidated Fund of India. In May 2020 during the first wave of the Covid pandemic President Ram Nath Kovind decided to forego 30 of his salary for the whole year. However if the President surrenders his salary to the Consolidated Fund of India he does not have to pay tax on that income.

Sum payable as a result of judgement decree or award of a court. Peoples representatives like the President Vice-President Governors Prime Minister and MLAs decided to accept a 30 cut in their salaries which will go to the consolidated fund of India. B Public Account of India.

Moreover in 2017 the Presidents salary was increased from Rs 15 lakh a month to Rs 5 lakh per month. Correct option is. The vice presidents office is second highest government office in india so he is paid the salary and allowances in addition to pension.

1 The Central government may by notification in the Official Gazette make rules for carrying out the purposes of this Act. Consolidated funddContingency fund arifullaarifs arifullaarifs 10022021 Social Sciences Secondary School answered The salary of the President of india is paid from. Consolidated fund dContingency fund 2 See answers divyaprakash1281 divyaprakash1281 Answer.

It is in the nature of an imprest money maintained for a specific purpose. The British Consolidated Fund Establishment. All government expenditure is made from this fund except exceptional items which are met from the Contingency Fund or the Public Account.

Position in the Indian order of precedence Post Salary per month Basic Pay Other emoluments and allowances 1 President 500000 US7000 Other allowances fixed to the President. Revenues received by the government and expenses made by it are part of the. Debt charges of the government of India.

The financial memorandum says this will be done under clause 115 of the finance bill by transfer of an additional amount of Rs 450 crore from the Consolidated Fund of India to the Contingency Fund of India. Importantly no money can be withdrawn from this fund without the Parliaments approval. The present salary of the vice- president of india is 4 lakh and he or she is also paid daily allowances free accommodation medical allowances and travel allowances.

Accordingly the President also has to pay income tax. Salary and allowances of the President. The Presidents salary is charged from the consolidated fund of India.

Contingency Fund of India. Under this Act shall be charged on the Consolidated Fund of India. E National Fund Office.

Neither the Income Tax Act nor the Presidents Pension Act excludes the salary of the President from income tax. Its corpus is Rs. 2 Vice President 400000 US5600 Other allowances fixed to the Vice President.

That means his salary was Rs 35 lakh since May to December 2020. The British Consolidated Fund was so named as it consolidated together a number of existing accounts detailed below and facilitated proper parliamentary oversight of the spending of the executive. Provision for this fund is made in Article 2671 of the Constitution of India.

Consolidated fund this is right ans. Debt charges of the government of India. President VP CAG etc are not employees and not attached to any Department of Govt Salaries of employees are debitable to expenditure account The post of President VP etc are not bound by Central Service Rules The remuneration of such peop.

The provisions are laid down under this act.

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