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Answer

Correct Option is 1,2,3,4 and 5

The Constitution of India provides for the following three kinds of funds for the Central government 1. Consolidated Fund of India (Article 266) 2. Public Account of India (Article 266) 3. Contingency Fund of India (Article 267) Public Account of India All other public money (other than those which are credited to the Consolidated Fund of India) received by or on behalf of the Government of India shall be credited to the Public Account of India. This includes provident fund deposits, judicial deposits, savings bank deposits, departmental deposits, remittances. This account is operated by executive action, that is, the payments from this account can be made without parliamentary appropriation. Such payments are mostly in the nature of banking transactions. Hence all statements are correct.

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