Current Affairs Exam  >  Current Affairs Questions  >  Consider the following statements regarding P... Start Learning for Free
Consider the following statements regarding Public Account of India.
1. The Union government serves as a banker in certain transactions, and the Public Account of India pays for those flows.
2. State provident funds and small savings deposits are included.
3. The parliament must approve expenditures from the Indian Public Account.
Which of the above statements is/are correct?
  • a)
    1 and 3
  • b)
    1 and 2
  • c)
    2 only
  • d)
    2 and 3
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Consider the following statements regarding Public Account of India.1....
  • Public Account of India accounts for flows for those transactions where the government is merely acting as a banker. This fund was constituted under Article 266 (2) of the Constitution.
  • Examples of those are provident funds, small savings and so on. These funds do not belong to the government. They have to be paid back at some time to their rightful owners. Because of this nature of the fund, expenditures from it are not required to be approved by the Parliament.
View all questions of this test
Explore Courses for Current Affairs exam

Top Courses for Current Affairs

Consider the following statements regarding Public Account of India.1. The Union government serves as a banker in certain transactions, and the Public Account of India pays for those flows.2. State provident funds and small savings deposits are included.3. The parliament must approve expenditures from the Indian Public Account.Which of the above statements is/are correct?a)1 and 3b)1 and 2c)2 onlyd)2 and 3Correct answer is option 'B'. Can you explain this answer?
Question Description
Consider the following statements regarding Public Account of India.1. The Union government serves as a banker in certain transactions, and the Public Account of India pays for those flows.2. State provident funds and small savings deposits are included.3. The parliament must approve expenditures from the Indian Public Account.Which of the above statements is/are correct?a)1 and 3b)1 and 2c)2 onlyd)2 and 3Correct answer is option 'B'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Consider the following statements regarding Public Account of India.1. The Union government serves as a banker in certain transactions, and the Public Account of India pays for those flows.2. State provident funds and small savings deposits are included.3. The parliament must approve expenditures from the Indian Public Account.Which of the above statements is/are correct?a)1 and 3b)1 and 2c)2 onlyd)2 and 3Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Public Account of India.1. The Union government serves as a banker in certain transactions, and the Public Account of India pays for those flows.2. State provident funds and small savings deposits are included.3. The parliament must approve expenditures from the Indian Public Account.Which of the above statements is/are correct?a)1 and 3b)1 and 2c)2 onlyd)2 and 3Correct answer is option 'B'. Can you explain this answer?.
Solutions for Consider the following statements regarding Public Account of India.1. The Union government serves as a banker in certain transactions, and the Public Account of India pays for those flows.2. State provident funds and small savings deposits are included.3. The parliament must approve expenditures from the Indian Public Account.Which of the above statements is/are correct?a)1 and 3b)1 and 2c)2 onlyd)2 and 3Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Current Affairs. Download more important topics, notes, lectures and mock test series for Current Affairs Exam by signing up for free.
Here you can find the meaning of Consider the following statements regarding Public Account of India.1. The Union government serves as a banker in certain transactions, and the Public Account of India pays for those flows.2. State provident funds and small savings deposits are included.3. The parliament must approve expenditures from the Indian Public Account.Which of the above statements is/are correct?a)1 and 3b)1 and 2c)2 onlyd)2 and 3Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Consider the following statements regarding Public Account of India.1. The Union government serves as a banker in certain transactions, and the Public Account of India pays for those flows.2. State provident funds and small savings deposits are included.3. The parliament must approve expenditures from the Indian Public Account.Which of the above statements is/are correct?a)1 and 3b)1 and 2c)2 onlyd)2 and 3Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Consider the following statements regarding Public Account of India.1. The Union government serves as a banker in certain transactions, and the Public Account of India pays for those flows.2. State provident funds and small savings deposits are included.3. The parliament must approve expenditures from the Indian Public Account.Which of the above statements is/are correct?a)1 and 3b)1 and 2c)2 onlyd)2 and 3Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Consider the following statements regarding Public Account of India.1. The Union government serves as a banker in certain transactions, and the Public Account of India pays for those flows.2. State provident funds and small savings deposits are included.3. The parliament must approve expenditures from the Indian Public Account.Which of the above statements is/are correct?a)1 and 3b)1 and 2c)2 onlyd)2 and 3Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Consider the following statements regarding Public Account of India.1. The Union government serves as a banker in certain transactions, and the Public Account of India pays for those flows.2. State provident funds and small savings deposits are included.3. The parliament must approve expenditures from the Indian Public Account.Which of the above statements is/are correct?a)1 and 3b)1 and 2c)2 onlyd)2 and 3Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice Current Affairs tests.
Explore Courses for Current Affairs exam

Top Courses for Current Affairs

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev