Question
Consider the following about the Public Account:
I. Provident Funds
II. Small Savings collections
III. Receipts of Government subsidy Which of the above is/are examples of moneys kept in the Public Account?
Solution
The Public Account draws its existence from Article 266 of the Constitution of India. Provident Funds, Small Savings collections, receipts of Government set apart for expenditure on specific objects such as road development, primary education, other Reserve/Special Funds etc., are examples of moneys kept in the Public Account.
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