UPSC Exam > UPSC Questions > Consider the following statements regarding P...
Start Learning for Free
Consider the following statements regarding Public Account of India.
- Public Account of India accounts for those transactions where the Union government acts as a banker.
- Expenditures from Public Account of India does not require the approval of the parliament.
- State provident funds and small savings deposits are outside the preview of Public Account of India.
Which of the above statements is/are correct?
- a)1, 3
- b)1, 2
- c)2 only
- d)2, 3
Correct answer is option 'B'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
Consider the following statements regarding Public Account of India. P...
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.
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.
Free Test
FREE
| Start Free Test |
Community Answer
Consider the following statements regarding Public Account of India. P...
Public Account of India
The Public Account of India is one of the three parts of the Consolidated Fund of India, the other two being the Contingency Fund of India and the Consolidated Fund of India. It is an account where the Union government acts as a banker and keeps the funds that do not belong to it, but are entrusted to it by others. Here are the statements regarding the Public Account of India and their correctness:
Statement 1: Public Account of India accounts for those transactions where the Union government acts as a banker.
This statement is correct. The Public Account of India includes transactions where the government acts as a banker, such as providing banking services to various entities, organizations, and individuals. It includes deposits and withdrawals made by these entities.
Statement 2: Expenditures from Public Account of India does not require the approval of the parliament.
This statement is incorrect. Expenditures from the Public Account of India do require the approval of the parliament. The funds in the Public Account are held by the government on behalf of various entities, and the government can only utilize these funds for the purposes for which they were deposited. Any expenditure from the Public Account needs to be authorized by the parliament through the approval of the annual budget or through separate legislation.
Statement 3: State provident funds and small savings deposits are outside the preview of Public Account of India.
This statement is correct. State provident funds and small savings deposits are not part of the Public Account of India. They are managed separately and have their own accounts and mechanisms for handling transactions. State provident funds are managed by the respective state governments and small savings deposits, such as those made in post office savings accounts, are managed by the Department of Posts.
Therefore, the correct statements are:
a) 1, 3
The Public Account of India is one of the three parts of the Consolidated Fund of India, the other two being the Contingency Fund of India and the Consolidated Fund of India. It is an account where the Union government acts as a banker and keeps the funds that do not belong to it, but are entrusted to it by others. Here are the statements regarding the Public Account of India and their correctness:
Statement 1: Public Account of India accounts for those transactions where the Union government acts as a banker.
This statement is correct. The Public Account of India includes transactions where the government acts as a banker, such as providing banking services to various entities, organizations, and individuals. It includes deposits and withdrawals made by these entities.
Statement 2: Expenditures from Public Account of India does not require the approval of the parliament.
This statement is incorrect. Expenditures from the Public Account of India do require the approval of the parliament. The funds in the Public Account are held by the government on behalf of various entities, and the government can only utilize these funds for the purposes for which they were deposited. Any expenditure from the Public Account needs to be authorized by the parliament through the approval of the annual budget or through separate legislation.
Statement 3: State provident funds and small savings deposits are outside the preview of Public Account of India.
This statement is correct. State provident funds and small savings deposits are not part of the Public Account of India. They are managed separately and have their own accounts and mechanisms for handling transactions. State provident funds are managed by the respective state governments and small savings deposits, such as those made in post office savings accounts, are managed by the Department of Posts.
Therefore, the correct statements are:
a) 1, 3
Attention UPSC Students!
To make sure you are not studying endlessly, EduRev has designed UPSC study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in UPSC.
|
Explore Courses for UPSC exam
|
|
Top Courses for UPSCView all
Consider the following statements regarding Public Account of India. Public Account of India accounts for those transactions where the Union government acts as a banker. Expenditures from Public Account of India does not require the approval of the parliament. State provident funds and small savings deposits are outside the preview of Public Account of India.Which of the above statements is/are correct?a)1, 3b)1, 2c)2 onlyd)2, 3Correct answer is option 'B'. Can you explain this answer?
Question Description
Consider the following statements regarding Public Account of India. Public Account of India accounts for those transactions where the Union government acts as a banker. Expenditures from Public Account of India does not require the approval of the parliament. State provident funds and small savings deposits are outside the preview of Public Account of India.Which of the above statements is/are correct?a)1, 3b)1, 2c)2 onlyd)2, 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 Consider the following statements regarding Public Account of India. Public Account of India accounts for those transactions where the Union government acts as a banker. Expenditures from Public Account of India does not require the approval of the parliament. State provident funds and small savings deposits are outside the preview of Public Account of India.Which of the above statements is/are correct?a)1, 3b)1, 2c)2 onlyd)2, 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 Consider the following statements regarding Public Account of India. Public Account of India accounts for those transactions where the Union government acts as a banker. Expenditures from Public Account of India does not require the approval of the parliament. State provident funds and small savings deposits are outside the preview of Public Account of India.Which of the above statements is/are correct?a)1, 3b)1, 2c)2 onlyd)2, 3Correct answer is option 'B'. Can you explain this answer?.
Consider the following statements regarding Public Account of India. Public Account of India accounts for those transactions where the Union government acts as a banker. Expenditures from Public Account of India does not require the approval of the parliament. State provident funds and small savings deposits are outside the preview of Public Account of India.Which of the above statements is/are correct?a)1, 3b)1, 2c)2 onlyd)2, 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 Consider the following statements regarding Public Account of India. Public Account of India accounts for those transactions where the Union government acts as a banker. Expenditures from Public Account of India does not require the approval of the parliament. State provident funds and small savings deposits are outside the preview of Public Account of India.Which of the above statements is/are correct?a)1, 3b)1, 2c)2 onlyd)2, 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 Consider the following statements regarding Public Account of India. Public Account of India accounts for those transactions where the Union government acts as a banker. Expenditures from Public Account of India does not require the approval of the parliament. State provident funds and small savings deposits are outside the preview of Public Account of India.Which of the above statements is/are correct?a)1, 3b)1, 2c)2 onlyd)2, 3Correct answer is option 'B'. Can you explain this answer?.
Solutions for Consider the following statements regarding Public Account of India. Public Account of India accounts for those transactions where the Union government acts as a banker. Expenditures from Public Account of India does not require the approval of the parliament. State provident funds and small savings deposits are outside the preview of Public Account of India.Which of the above statements is/are correct?a)1, 3b)1, 2c)2 onlyd)2, 3Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of Consider the following statements regarding Public Account of India. Public Account of India accounts for those transactions where the Union government acts as a banker. Expenditures from Public Account of India does not require the approval of the parliament. State provident funds and small savings deposits are outside the preview of Public Account of India.Which of the above statements is/are correct?a)1, 3b)1, 2c)2 onlyd)2, 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. Public Account of India accounts for those transactions where the Union government acts as a banker. Expenditures from Public Account of India does not require the approval of the parliament. State provident funds and small savings deposits are outside the preview of Public Account of India.Which of the above statements is/are correct?a)1, 3b)1, 2c)2 onlyd)2, 3Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Consider the following statements regarding Public Account of India. Public Account of India accounts for those transactions where the Union government acts as a banker. Expenditures from Public Account of India does not require the approval of the parliament. State provident funds and small savings deposits are outside the preview of Public Account of India.Which of the above statements is/are correct?a)1, 3b)1, 2c)2 onlyd)2, 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. Public Account of India accounts for those transactions where the Union government acts as a banker. Expenditures from Public Account of India does not require the approval of the parliament. State provident funds and small savings deposits are outside the preview of Public Account of India.Which of the above statements is/are correct?a)1, 3b)1, 2c)2 onlyd)2, 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. Public Account of India accounts for those transactions where the Union government acts as a banker. Expenditures from Public Account of India does not require the approval of the parliament. State provident funds and small savings deposits are outside the preview of Public Account of India.Which of the above statements is/are correct?a)1, 3b)1, 2c)2 onlyd)2, 3Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice UPSC tests.
|
|
Explore Courses for UPSC exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup