Constitution Section 283 — Custody, etc., of Consolidated Funds, Contingency Funds and moneys credited to the public accounts
Part XII — FINANCE, PROPERTY, CONTRACTS AND SUITS — Miscellaneous Financial Provisions
Constitutional
Summary
This section says that Parliament will make laws about how the Consolidated Fund of India and the Contingency Fund of India are handled, including how money is deposited into and taken out of them. It also covers how other public money received by the central government is kept, paid into the public account, and withdrawn. Until Parliament makes such a law, the President can make rules to govern these matters. Similarly, for each state, the state legislature will make laws about its own Consolidated Fund and Contingency Fund, and the Governor can make rules until the legislature does so.
Official Text
(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 public account of India and the withdrawal of moneys from such account and all other matters connected with or ancillary to matters aforesaid shall be regulated by law made by Parliament, and, until provision in that behalf is so made, shall be regulated by rules made by the President.
(2) The custody of the Consolidated Fund of a State and the Contingency Fund of a State, 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 the State, their payment into the public account of the State and the withdrawal of moneys from such account and all other matters connected with or ancillary to matters aforesaid shall be regulated by law made by the Legislature of the State, and, until provision in that behalf is so made, shall be regulated by rules made by the Governor of the State.