That is why Parliament which is Union legislature in India, is called custodian of Consolidated Fund of India.
Who is the guardian of Consolidated Fund?
Mercy E. Biney. The guardian of public fund in India is Comptroller And Auditor General Of India & Public Accounts Committee. Article 266 & Article 267 of the Indian Constitution deal with the Funds of Government of India.
Who is the guardian of public fund in India?
CAG of India, or also the “Guardian of the Public Purse”, is vested with the responsibility of inspecting and auditing all the expenditure of both the Central and the State Governments as well as of those organisations or the bodies which the government significantly funds.
Who is guardian of public purse?
Notes: Article 148 of the Constitution of India provides for an independent office of the Comptroller and Auditor General of India (CAG). He is the head of the Indian Audit and Accounts Department and also the guardian of public purse.
What is meant by custody of Consolidated Fund of India?
Description: (1) The custody of the Consolidated Fund of India and the Contingency Fund of India, the payment of moneys into such Funds, the withdrawal of moneys therefrom, the custody of public moneys other than those credited to such Funds received by or on behalf of the Government of India, their payment into the …
Who holds the Contingency Fund of India?
The fund is held by the Finance Secretary (Department of Economic Affairs) on behalf of the President of India and it can be operated by executive action. The Contingency Fund of India exists for disasters and related unforeseen expenditures.
Who audits the Consolidated Fund of India?
The Comptroller and Auditor General of India audits these funds and reports to the relevant legislatures on their management. The budget consists of two types of expenditure – the expenditure ‘charged’ upon the Consolidated Fund of India and the expenditure ‘made’ from the Consolidated Fund of India.
Who appointed Comptroller and Auditor General of India?
There shall be a Comptroller and Auditor-General of India who shall be appointed by the President by warrant under his hand and seal and shall only be removed from office in like manner and on like grounds as a Judge of the Supreme Court.
Who can remove President of India?
The president may also be removed before the expiry of the term through impeachment for violating the Constitution of India by the Parliament of India. The process may start in either of the two houses of the parliament. The house initiates the process by levelling the charges against the president.
Who called guardian?
Understanding What Guardians Do
The guardian is usually either named or appointed in a will or a court of law by a judge. 1 Parents will often name a guardian to their children in the event of the parents’ death or inability to provide for the children.
Who is called the watchdog of public finance?
The Comptroller and Auditor General (CAG) of India is the guardian of the public purse and controls the entire financial system of the country at both the levels – the Centre and the state. Comptroller and Auditor General of India. …
Who is the current comptroller and auditor general?
Current Comptroller & Auditor General
Seamus McCarthy was appointed as Comptroller and Auditor General on 28 May 2012.