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Historically, most scholars (“scientist” is a term dating from the 19th century) have supported themselves in one or more these ways:From property and money either inherited or procured by marriage (traditionally, the point of being an aristocrat or a gentleman was that one could live off the rent on one’s lands, without having to work at all).By obtaining a position in government or in the church (a “sinecure”) that provides a salary while allowing ample leisure to pursue other activities.By the direct support of a wealthy patron, often in exchange for tutoring the patron’s children or the patron himself.More modernly, by finding employment as a university professor or as a member of an academy.I’m not aware of any major scholar (scientist or otherwise) who was supported by his intellectual work directly (say, from royalties on his publications).Socrates, who was not well off, originally worked as a stonemason. It seems that he was able to pursue his philosophical career thanks to the support of wealthy disciples, such as the aristocrats Alcibiades and Plato.Aristotle was the son of the King of Macedon’s physician, and throughout most of his career he was supported by the Macedonian court. Famously, he was the tutor of young Alexander the Great.Copernicus was supported by a sinecure as canon of the cathedral of Frombork, where his uncle was the bishop.Descartes was a soldier for a while, and at the end of his life he was tutor to the Queen of Sweden (he caught pneumonia in the harsh Stockholm winter and, it being long before antibiotics, promptly died). But for most of his career he seems to have subsisted on his family’s money, as his father was a well-off lawyer.Leibniz served various German princes as lawyer, librarian, and historian. When his employer, the Prince of Hanover, ascended to the throne of Great Britain in 1714 as George I, Leibniz hoped to follow him to London. But George insisted that Leibniz stay in Hanover until he had finished his much postponed study of George’s genealogy. Leibniz never completed that assignment, and he died in 1716. In a letter to fellow mathematician L'Hôpital, Leibniz had joked that inheriting a lot of money “is better than the most beautiful problem of geometry, since it plays the role of a general method and enables us to solve many problems.”Newton inherited a bit of land and money from his mother. But his scientific work was mostly supported by his stipend as a fellow of Trinity College and then by his salary as the Lucasian Professor of Mathematics at the University of Cambridge (a position that he obtained at the age of 26 and without having published anything, upon the recommendation of the first Lucasian Professor, Isaac Barrow). The Lucasian Professor was required to lecture regularly and to deposit written summaries of the lectures in the University library. According to Newton’s assistant Humphrey Newton (not a relative) “so few went to hear him, and fewer yet understood him, that often he did in a manner, for want of hearers, read to the walls.”In his mid-fifties Newton moved to London, becoming first Warden and then Master of the Royal Mint. The job had been offered to him as a sinecure, but Newton took it very much in earnest, striving to improve the quality of the coinage and to prosecute counterfeiters and clippers (people who shaved bits of gold and silver from circulating coins). By then Newton’s work in mathematics and physics was largely over.Euler, one of the greatest mathematicians and physicists of all time, was born and educated in Basel, Switzerland. He failed to obtain a professorship at his alma mater, the University of Basel, and therefore had to move to Russia in 1727, where he became a salaried member of the Saint Petersburg Academy of Sciences (now the Russian Academy of Sciences). After the death of Empress Catherine I, the conservative Russian nobles forced out most of the foreign academicians, so Euler moved to Berlin, where he joined the Prussian Academy of Sciences in 1741. He was not, however, well liked by King Frederick II. Frederick found Euler a dull conversationalist, and he resented Euler’s failure to put his mathematics to a practical use in an impressive system of fountains for the summer palace of Sanssouci. (Frederick liked to refer to Euler, who had lost an eye to an infection, as “the Cyclops”). Upon the invitation of the new Russian Empress Catherine II, in 1766 Euler moved back to Saint Petersburg, where he continued to work until his death.I might also mention that in 1763 Adam Smith quit his job as professor of moral philosophy at the University of Glasgow to become tutor to the young Duke of Buccleuch. Evidently, Smith judged that the tutoring job would afford him more time to pursue his own research on economics, and give him the opportunity of travelling with his tutee to continental Europe, where Smith could exchange ideas with leading scholars.

The concept of Consolidated Fund (CF) is adopted in India from Britain, was first set up in 1787 in Britain as ‘one fund into which shall flow every stream of public revenue and from which shall come the supply for every service’. The basis of the financial mechanism by which the CF is operated is governed by the Exchequer and Audit Departments Act 1866.Actually in India constitutionally three types of funds exist.1: Contingency fund of India (Art.267)kept under the guardianship of President.President is having the right to spend from this fund- for emergency/unforeseen circumstancesIt can be spend without the authorization of parliament.2: Public Accounts of India (Art.266)This is made up of:The Deposit head under 'Deposits and Advances' includes sums deposited with Government in the daily course of business by members of the public,e.g. deposits made in connection with revenue administration, deposits made in civil and criminal courts, security deposits taken from government servants/ contractors when required, public works and earnest money deposits, deposits made by electoral candidates, deposits of local funds of municipalities and panchayats, electricity boards, housing boards, universities etcNational Investment fund (money earned from disinvestment, goes here)National Calamity & contingency fund (NCCF) (for disaster Management).There are five major heads of accounts under the Public Account: (i) Small Savings, Provident Fund and Other Accounts (ii) Reserve Funds (iii) Deposits and Advances (iv) Suspense and Miscellaneous and (v) Remittances.3: Consolidated fund of India (Art.266)This fund/basket is filled byall the cash from direct and indirect taxesall the loans taken by government of IndiaWhenever someone returns principle/interest of the loans given by Government of India.This is the largest of all three funds. And government needs parliament’s approval to spend money from this fund. Why? Because Article 266 say so.Overall, finance minister must put three files on the table of parliament:Appropriation bill: to get permission of parliament, to take out cash from Consolidated fund of India. Art 266.Finance Bill: to get permission of parliament to collect taxes from people. Art 265.Annual financial statement: to show the parliament data about his incoming and outgoing money. ...................................................................................................... So Government of India owns a bank account. In this bank account, all the money generated from various sources will be deposited. It is levying of taxes, profit from Public Sector Undertakings and other revenues are kept in this bank account. This bank account of government is considered as Consolidated Fund of India.To withdraw the amount, it is not possible without the permission of Parliament. Parliament means Lok Sabha, Rajya Sabha and President. This trinity is considered as Parliament.The time of withdrawl is at the time of Budget. Budget is a procedure to withdraw the generated money for useful purposes.So it is just an account , and all transacion are done on pen-paper basis. No physical cash transaction .

It was a fantastic experience and probably the hardest I have ever worked in a completely independent way.My experience goes back a decade or so, and applies to the M.Phil. degree I received in literature. Since the M.Phil. is a 'structured coursework plus exams' program, with an optional (if I recall correctly) thesis, it's quite different from other programs that have longer periods of less structured work or don't culminate in exams.As a graduate student, you are associated with one of the colleges there, but graduate admissions and courses are centralized by discipline (whereas for undergraduates they are both largely per-college), so the collegiate association is less important from an academic point of view.The student experience was very self-directed. The basic tutorial model was one-on-one meetings with a world-class authority on a topic once per two weeks or so, and between meetings you were expected to digest multiple books and write a paper of graduate quality expressing significant, original thought. I cannot say enough about how challenging this was, but it was also very much a function of the expectations I set for myself. Writing the thesis was a similarly challenging experience; in relatively short order I had to generate a thesis topic, create a work that I was willing to bind and deposit for posterity into the Bodleian Library, and defend it to world-class academics in my chosen topics. As an example, I included a chapter on Dickens in my thesis -- someone who wrote 15 or 20 books and has had hundreds if not thousands written about him -- and then had to debate the conclusions of my two-term project to a chaired professor whose life's work was Dickens, and whose interpretations I'd departed from.In parallel to this coursework, most lectures and certain kinds of electives (e.g. foreign languages) are public to all students across disciplines. In theory, this is amazing -- and I have some of fantastic memories of dramatic poetry recitations by caped professors and so on -- but in reality this is on top of your already-daunting coursework, so it's difficult to work a lot of hours of lectures in and, say, pick up German in parallel to trying to do publishable work in a competitive discipline.All in all, though, this was extremely rewarding. Being offered a place to read on for a doctorate was a huge honor. Although I declined it, it was a milestone of personal achievement that I felt I'd truly earned, and my undergraduate work and other academic experiences I've had (although great in their own ways) really paled in comparison to the sheer volume of work output and intellectual rigor I had to put in at Oxford.I often also say that I truly learned to think and write at Oxford. There was no "A for effort" culture whatsoever; on the contrary, I was often challenged to defend things with a level of rigorous primary research that I'd never been held accountable to before.On the lifestyle front, while I can't say what it's like to "live in different colleges," Trinity was wonderful, and living in Oxford generally was pretty magical. I spent a year living in an 18th-century building upstairs from Blackwell's Books and across the street from the Sheldonian Theatre, amid beautiful gardens and iconic architecture. On the other hand, my floors were uneven, my windows were basically of the medieval arrow-slit variety, and I shared a single bath and phone with a whole bunch of others. In my second year there I lived in a Trinity outbuilding that was a couple of miles up the road, but gave me a chance to ride my bike daily and also had a lovely glass conservatory, a tree that produced pie-worthy apples, and was conveniently located near several nice pubs and meadows. Punting on riverboats with strawberries and champagne en route, rowing crew and playing cricket intramurally (as a non-serious athlete), playing tennis on grass courts, attending events at the Oxford Union, concerts in ancient chapels, candlelit poetry readings, holiday meals, and so on, all happened regularly... as did raucous debates at the various pubs around town.Dining in college required wearing a gown like the one you'd wear at your high-school graduation in the US (though you could wear whatever you wanted underneath). The hall was more or less as depicted in various Harry Potter movies -- a fairly formal affair, with a high table, standing for grace, and so on... though the food itself wasn't great and generally was a free-for-all to grab. Certain occasions, including exams, required wearing a full white-tie deal underneath the gown (aka "sub fusc"). It was weird but actually quite comical and fun.A lot of my perspective on social life is skewed by the fact that I was an American abroad there. A lot of the other americans, and in particular Rhodes Scholars, were quite a bit less academically focused and more socially oriented (many of them doing second B.A.'s rather than graduate work), but it was a built-in social network, whereas it was more difficult to create friendships with Brits that extended beyond curiosity and courtesy. The friendships that were made, however, were real and meaningful. In general, there are a lot fewer graduate students around that undergraduates (or at least there were at Trinity), so you're a bit out of the main stream of social activities that happen.If you have the opportunity to study at Oxford, take it!