consolidated fund


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consolidated fund

a government-maintained account with the Bank ofEngland to receive the public income of the state and to meet annual public expenditure. It pays the interest on the national debt.
References in periodicals archive ?
'A statement, made by Helen Liddell as Energy Minister on December 8, 1999, contains the following note: 'Under the 1994 Coal Industry Act, surpluses received by the DTI must be paid over to the Treasury's Consolidated Fund. The Treasury has agreed that they may be retained by the DTI to offset expenditure on liabilities inherited from British Coal'.
A government in power commanding the majority in the National Assembly feels that the absence of a public finance management act gives it the unbridled power to regulate the federal consolidated fund and related matters, and therefore, it takes no initiative to legislate on this important area of state business.
While presiding over a meeting at the new secretariat on Monday, the CM sought to devise a strategy for the recovery of, what he claims is, the unconstitutional and unauthorised deduction by FBR from the provincial consolidated fund. The meeting was attended by Minister Excise and Taxation Mukesh Kumar Chawla, Principal Secretary to CM Sajid Jamal Abro, Secretary Finance Secretary Excise Raheem Shaikh, Director General Excise Shoaib Siddqui and others.
'There is sufficient evidence that all the proceeds of the Eurobond were either eventually received into the Consolidated Fund or paid out for authorised purposes.
970,363,192,000) shall be payable out of the Consolidated Fund of the Democratic Socialist Republic of Sri Lanka for the services specified in the Second Schedule to this Resolution tabled (for expenditure pertaining to providing for the services authorized by laws to be charged to the Consolidated Fund) and that the said sums may be expended during the aforesaid period, in the manner specified in such Schedule; and
The Minister also expressed concern that the Integrated Goods and Services Tax (IGST) balance to an extent of Rs 1 lakh crore lying as on March 31 was distributed to the states to an extent of 42 percent as per the Finance Commission devolution formula after putting the entire amount in the consolidated fund of India.
class="MsoNormalShe said they made a provision to take care of such an eventuality by empowering the National Assembly to authorise the withdrawal of money from the Consolidated Fund to facilitate government business until the law is assented to.
Ipaye who was the Guest Speaker at the 2018 Annual General Meeting and Scientific Conference of the Nigerian Medical Association, Ogun State branch, explained that the Act provides for one per cent of the Consolidated Fund to provide for the basic health indices.
KARACHI -- Sindh Chief Minister Syed Murad Ali Shah has said that the Sindh government has been facing frequent arbitrary and unauthorised deductions over past years by Federal Board of Revenue (FBR) through State Bank of Pakistan in connection with withholding tax and sales tax on goods from the Provincial Consolidated Fund (PCF), in utter violation of the constitution provisions.
KARACHI -- Sindh Chief Minister Syed Murad Ali Shah has said that the Sindh government has been facing frequent arbitrary and unauthorized deductions over past years by Federal Board of Revenue (FBR) through State Bank of Pakistan in connection with withholding tax and sales tax on goods from the provincial Consolidated Fund (PCF), in utter violation of the constitution provisions.
Karachi -- Sindh government has been facing frequent arbitrary and unauthorized deductions over past years by the Federal Board of Revenue (FBR) through State Bank of Pakistan in connection with withholding tax and sales tax on goods from the Provincial Consolidated Fund (PCF), in utter violation of the constitutional provisions.
Benefits at the schemes are transferred to citizens from the Consolidated Fund of India.

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