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

The correct answer is C) Consolidated Fund of India. Under Article 266(1), all revenues received by the Government of India from taxes and other receipts for the conduct of government business go into the Consolidated Fund. Money can leave this fund only under law or Parliament's appropriation (Article 114), which is the core of financial accountability in the Indian system.

• A) Contingency Fund of India: Under Article 267, this is an imprest held for urgent unforeseen expenditure. It is not where ordinary revenues are credited.
• B) Public Account: Under Article 266(2), it holds other moneys such as small savings, provident funds and remittances, where the government acts more like a banker or trustee. Tax revenue does not go here.
• D) Deposits and Advances Fund: This is an accounting head within the Public Account, not one of the constitutional funds.

For Mains, this links to parliamentary control over the purse, budget scrutiny, and the role of CAG and PAC.

Trap: Aspirants often confuse the Contingency Fund with a general reserve for revenues, or assume the Public Account is also a revenue fund. Remember that only the Consolidated Fund receives government revenues.