Do loans raised by government of India comes under consolidated funds of India or public accounts of India?
Under article 266(1) of the constitution of India, All revenues raised by the government of India (Union Government) as well as loans raised by issuing treasury bills, internal loans, external loans and all moneys received by government of india in repayment of loans shall form the consolidated fund of India. All revenues include - Tax Revenue from Personal income tax, orporate income tax, customs and excise duties. Non tax revues like licence fees, dividents and profits from public sector undertakings.
