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With reference to Indian Public Finance, consider the following statements:
1. Disbursements from Public Accounts of India are subject to the Vote of Parliament.
2. The Indian Constitution provides for the establishment of a Consolidated Fund, a Public Account and a Contingency Fund for each State.
3. Appropriations and disbursements under the Railway Budget are subject to the same form of parliamentary control as other appropriations and disbursements.
1. Disbursements from Public Accounts of India are subject to the Vote of Parliament.
2. The Indian Constitution provides for the establishment of a Consolidated Fund, a Public Account and a Contingency Fund for each State.
3. Appropriations and disbursements under the Railway Budget are subject to the same form of parliamentary control as other appropriations and disbursements.
Q. Which of the statements given above are correct?
- a)1 and 2
- b)2 and 3
- c)1 and 3
- d)1, 2 and 3
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
With reference to Indian Public Finance, consider the following statem...
The receipts under Public accounts mainly consists of the receipts of National Savings Certificate, Provident funds and other deposits where the Govt. acts as a banker and returns the fund after completion of the contract. Therefore, the disbursement out of this account does not need authorization of the Parliament. Art.266 provides for the Consolidated fund of India/States and also the public account of India and the States. Art.267 authorizes the Parliament and the State Legislature to establish a Contingency fund of India and the States respectively.
Most Upvoted Answer
With reference to Indian Public Finance, consider the following statem...
Statement 1: Disbursements from Public Accounts of India are subject to the Vote of Parliament.
This statement is incorrect. Disbursements from the Public Accounts of India are not subject to the Vote of Parliament. The Public Accounts of India are funds held by the Government of India in trust or as an agent for individuals, organizations, or other governments. These accounts include the National Small Savings Fund, the Provident Fund Account, and the Reserve Funds for repayment of loans. Disbursements from these accounts are authorized by law and do not require the approval of Parliament.
Statement 2: The Indian Constitution provides for the establishment of a Consolidated Fund, a Public Account, and a Contingency Fund for each State.
This statement is correct. The Indian Constitution provides for the establishment of a Consolidated Fund, a Public Account, and a Contingency Fund for each State. The Consolidated Fund is the main fund of the state government, into which all revenues received and loans raised by the government are credited, and from which all expenditure is incurred. The Public Account is used for transactions relating to debt, deposits, and advances that do not belong to the Consolidated Fund. The Contingency Fund is an emergency fund that can be used by the Governor of the state for unforeseen expenditure.
Statement 3: Appropriations and disbursements under the Railway Budget are subject to the same form of parliamentary control as other appropriations and disbursements.
This statement is incorrect. Appropriations and disbursements under the Railway Budget are not subject to the same form of parliamentary control as other appropriations and disbursements. The Railway Budget is presented separately from the General Budget and is under the control of the Ministry of Railways. It is discussed and voted upon by Parliament, but the control and accountability mechanisms for the Railway Budget are different from those for the General Budget. The Railway Budget has its own accounting system and is subject to separate scrutiny by the Public Accounts Committee and the Committee on Estimates.
In conclusion, the correct statements are:
a) 1 and 2
This statement is incorrect. Disbursements from the Public Accounts of India are not subject to the Vote of Parliament. The Public Accounts of India are funds held by the Government of India in trust or as an agent for individuals, organizations, or other governments. These accounts include the National Small Savings Fund, the Provident Fund Account, and the Reserve Funds for repayment of loans. Disbursements from these accounts are authorized by law and do not require the approval of Parliament.
Statement 2: The Indian Constitution provides for the establishment of a Consolidated Fund, a Public Account, and a Contingency Fund for each State.
This statement is correct. The Indian Constitution provides for the establishment of a Consolidated Fund, a Public Account, and a Contingency Fund for each State. The Consolidated Fund is the main fund of the state government, into which all revenues received and loans raised by the government are credited, and from which all expenditure is incurred. The Public Account is used for transactions relating to debt, deposits, and advances that do not belong to the Consolidated Fund. The Contingency Fund is an emergency fund that can be used by the Governor of the state for unforeseen expenditure.
Statement 3: Appropriations and disbursements under the Railway Budget are subject to the same form of parliamentary control as other appropriations and disbursements.
This statement is incorrect. Appropriations and disbursements under the Railway Budget are not subject to the same form of parliamentary control as other appropriations and disbursements. The Railway Budget is presented separately from the General Budget and is under the control of the Ministry of Railways. It is discussed and voted upon by Parliament, but the control and accountability mechanisms for the Railway Budget are different from those for the General Budget. The Railway Budget has its own accounting system and is subject to separate scrutiny by the Public Accounts Committee and the Committee on Estimates.
In conclusion, the correct statements are:
a) 1 and 2
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With reference to Indian Public Finance, consider the following statements:1. Disbursements from Public Accounts of India are subject to the Vote of Parliament.2. The Indian Constitution provides for the establishment of a Consolidated Fund, a Public Account and a Contingency Fund for each State.3. Appropriations and disbursements under the Railway Budget are subject to the same form of parliamentary control as other appropriations and disbursements. Q. Which of the statements given above are correct?a)1 and 2 b)2 and 3c)1 and 3 d)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?
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With reference to Indian Public Finance, consider the following statements:1. Disbursements from Public Accounts of India are subject to the Vote of Parliament.2. The Indian Constitution provides for the establishment of a Consolidated Fund, a Public Account and a Contingency Fund for each State.3. Appropriations and disbursements under the Railway Budget are subject to the same form of parliamentary control as other appropriations and disbursements. Q. Which of the statements given above are correct?a)1 and 2 b)2 and 3c)1 and 3 d)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to Indian Public Finance, consider the following statements:1. Disbursements from Public Accounts of India are subject to the Vote of Parliament.2. The Indian Constitution provides for the establishment of a Consolidated Fund, a Public Account and a Contingency Fund for each State.3. Appropriations and disbursements under the Railway Budget are subject to the same form of parliamentary control as other appropriations and disbursements. Q. Which of the statements given above are correct?a)1 and 2 b)2 and 3c)1 and 3 d)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to Indian Public Finance, consider the following statements:1. Disbursements from Public Accounts of India are subject to the Vote of Parliament.2. The Indian Constitution provides for the establishment of a Consolidated Fund, a Public Account and a Contingency Fund for each State.3. Appropriations and disbursements under the Railway Budget are subject to the same form of parliamentary control as other appropriations and disbursements. Q. Which of the statements given above are correct?a)1 and 2 b)2 and 3c)1 and 3 d)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?.
With reference to Indian Public Finance, consider the following statements:1. Disbursements from Public Accounts of India are subject to the Vote of Parliament.2. The Indian Constitution provides for the establishment of a Consolidated Fund, a Public Account and a Contingency Fund for each State.3. Appropriations and disbursements under the Railway Budget are subject to the same form of parliamentary control as other appropriations and disbursements. Q. Which of the statements given above are correct?a)1 and 2 b)2 and 3c)1 and 3 d)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to Indian Public Finance, consider the following statements:1. Disbursements from Public Accounts of India are subject to the Vote of Parliament.2. The Indian Constitution provides for the establishment of a Consolidated Fund, a Public Account and a Contingency Fund for each State.3. Appropriations and disbursements under the Railway Budget are subject to the same form of parliamentary control as other appropriations and disbursements. Q. Which of the statements given above are correct?a)1 and 2 b)2 and 3c)1 and 3 d)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to Indian Public Finance, consider the following statements:1. Disbursements from Public Accounts of India are subject to the Vote of Parliament.2. The Indian Constitution provides for the establishment of a Consolidated Fund, a Public Account and a Contingency Fund for each State.3. Appropriations and disbursements under the Railway Budget are subject to the same form of parliamentary control as other appropriations and disbursements. Q. Which of the statements given above are correct?a)1 and 2 b)2 and 3c)1 and 3 d)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?.
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