Public Account of India

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Public Account of India

The Public Account of India is a consolidated fund of the Government of India that is used to account for all receipts and payments of the central government. The account is managed by the Controller General of Accounts (CGA), who is an independent officer appointed by the President of India.

The Public Account of India is divided into two parts: the General Account and the Special Account. The General Account is used to account for all receipts and payments of the central government, except for those that are specifically appropriated to the Special Account. The Special Account is used to account for receipts and payments that are specifically appropriated by Parliament, such as those relating to the railways, the postal department, and the defence forces.

The Public Account of India is audited by the Comptroller and Auditor General of India (CAG), who is an independent constitutional authority. The CAG submits an annual report to Parliament on the accounts of the central government, including the Public Account of India.

The Public Account of India is a vital part of the Indian financial system. It provides a transparent and accountable system for managing the finances of the central government. The account is also an important tool for the CAG in carrying out his constitutional duty of auditing the accounts of the central government.

Frequently Asked Questions

  1. What is the Public Account of India?
    The Public Account of India is a consolidated fund of the Government of India that is used to account for all receipts and payments of the central government.

  2. Who manages the Public Account of India?
    The Public Account of India is managed by the Controller General of Accounts (CGA), who is an independent officer appointed by the President of India.

  3. What are the two parts of the Public Account of India?
    The Public Account of India is divided into two parts: the General Account and the Special Account.

  4. What is the General Account used for?
    The General Account is used to account for all receipts and payments of the central government, except for those that are specifically appropriated to the Special Account.

  5. What is the Special Account used for?
    The Special Account is used to account for receipts and payments that are specifically appropriated by Parliament, such as those relating to the railways, the postal department, and the defence forces.

  6. Who audits the Public Account of India?
    The Public Account of India is audited by the Comptroller and Auditor General of India (CAG), who is an independent constitutional authority.

  7. What is the CAG’s annual report?
    The CAG submits an annual report to Parliament on the accounts of the central government, including the Public Account of India.

  8. Why is the Public Account of India important?
    The Public Account of India is a vital part of the Indian financial system. It provides a transparent and accountable system for managing the finances of the central government. The account is also an important tool for the CAG in carrying out his constitutional duty of auditing the accounts of the central government.

MCQs

  1. The Public Account of India is a consolidated fund of the Government of India that is used to account for all receipts and payments of the central government. True or False?
    True.

  2. The Public Account of India is managed by the Controller General of Accounts (CGA), who is an independent officer appointed by the President of India. True or False?
    True.

  3. The Public Account of India is divided into two parts: the General Account and the Special Account. True or False?
    True.

  4. The General Account is used to account for all receipts and payments of the central government, except for those that are specifically appropriated to the Special Account. True or False?
    True.

  5. The Special Account is used to account for receipts and payments that are specifically appropriated by Parliament, such as those relating to the railways, the postal department, and the defence forces. True or False?
    True.

  6. The Public Account of India is audited by the Comptroller and Auditor General of India (CAG), who is an independent constitutional authority. True or False?
    True.

  7. The CAG submits an annual report to Parliament on the accounts of the central government, including the Public Account of India. True or False?
    True.

  8. The Public Account of India is a vital part of the Indian financial system. It provides a transparent and accountable system for managing the finances of the central government. The account is also an important tool for the CAG in carrying out his constitutional duty of auditing the accounts of the central government. True or False?
    True.

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