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Q: Fund can be spent from the Consolidated Fund of India-
  • A. With the permission/consent of the PresidentWith the permission/consent of the President
  • B. With the approval of Parliament
  • C. With the approval of CAG
  • D. With the approval of the above officers
Correct Answer: Option B - The Consolidated Fund India was set up under Article 266 of the Constitution of India is a such type of a fund in which the remaining amount left after giving the state their share of taxes and duties is used. It is the largest fund of India, placed under the Parliament. Fund cannot be withdrawn without the approval of Parliament.
B. The Consolidated Fund India was set up under Article 266 of the Constitution of India is a such type of a fund in which the remaining amount left after giving the state their share of taxes and duties is used. It is the largest fund of India, placed under the Parliament. Fund cannot be withdrawn without the approval of Parliament.

Explanations:

The Consolidated Fund India was set up under Article 266 of the Constitution of India is a such type of a fund in which the remaining amount left after giving the state their share of taxes and duties is used. It is the largest fund of India, placed under the Parliament. Fund cannot be withdrawn without the approval of Parliament.