All revenues received by the Union Government by way of taxes and other receipts for the conduct of Government business are credited to the

Correct Option (c):

The Consolidated Fund of India, established under Article 266(1) of the Constitution, is the principal fund of the Union Government. All revenues received by the Union Government, including tax revenues (such as income tax, corporation tax, Goods and Services Tax) and non-tax revenues (such as interest receipts, dividends from public sector undertakings, fees), along with all loans raised by the government, are credited to this fund. No money can be appropriated or withdrawn from the Consolidated Fund of India without an Act of Parliament.

Incorrect Options:

Option (a) Contingency Fund of India: This fund, established under Article 267 of the Constitution, is an imprest fund placed at the disposal of the President to meet unforeseen expenditures of an urgent nature, pending parliamentary approval. It is not a repository for routine government revenues.

Option (b) Public Account: This account holds money received by the government where the government acts as a banker or trustee, rather than as an owner. Examples include provident funds, small savings collections, and remittances. These funds do not belong to the government and, therefore, do not require parliamentary approval for their withdrawal.

Option (d) Deposits and Advances Fund: This is not a separate constitutional fund but rather a classification within the Public Account. It deals with specific types of deposits and advances, such as judicial deposits, security deposits, and departmental advances. It does not receive the general revenues of the Union Government.