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The Public Account of India was constituted by Article 266(2) of the Indian Constitution which states that "All other public moneys received by or on behalf of the Government of India or the Government of a State shall be credited to the public account of India or the public account of the State, as the case may be." Here "other" signifies ...
The Public Accounts Committee (PAC) is a committee of selected members of parliament, constituted by the Parliament of India, for the purpose of auditing the revenue and the expenditure of the Government of India. They check that parliament exercises over the executive stems from the basic principle that parliament embodies the will of the people.
Custody, etc., of Consolidated Funds, Contingency Funds and moneys credited to the public accounts; A-284. Custody of suitors’ deposits and other moneys received by public servants and courts. A-285. Exemption of property of the Union from State taxation. A-286. Restrictions as to imposition of tax on the sale or purchase of goods. A-287.
The National Digital Library of India is a virtual repository of learning resources, providing services including textbooks, articles, videos, audiobooks, lectures, simulations, fiction, and other kinds of learning media for the learners/user community.
The responsibilities of the Committee on Public Undertakings are: [1] To examine the reports and accounts of public undertakings specified in the fourth Schedule to the Rules of Procedure and Conduct of Business in Lok Sabha. To examine the reports, if any, of the Comptroller and Auditor General of India on the Public Undertakings.
Audit of government accounts (including the accounts of the state governments) in India is entrusted to the CAG of India who is empowered to audit all expenditure from the Consolidated Fund of the union or state governments, whether incurred within India or outside, all revenue into the Consolidated Funds and all transactions relating to the ...
Public Sector Undertakings (Banks) are a major type of government-owned banks in India, where a majority stake (i.e., more than 50%) is held by the Ministry of Finance (India) of the Government of India or State Ministry of Finance of various State Governments of India. The shares of these government-owned-banks are listed on stock exchanges.
A public accounts committee (PAC) is a committee within a legislature whose role is to study public audits, invite ministers, permanent secretaries or other ministry officials to the committee for questioning, and report on their findings subsequent to a government budget audit. Typically, the government is required to report back to parliament ...