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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 ...
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 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.
Public Accounts Committee – It examines various expenditure reports and accounts under the purview of the Parliament. Till 1921, a senior member of the ruling party used to be appointed by the Speaker as Chairman of the Committee. In 1921, it was established under the provision of the government of India act of 1919 and has since been in ...
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 ...
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 ...
Its central civil servants serve in an audit managerial capacity in the Indian Audit and Accounts Department (IA&AD), and are responsible for auditing the accounts of the Union government and state governments, as well as their public commercial enterprises and non-commercial autonomous bodies. [6]