Public Account of India
Government Funds Intermediateभारत का लोक लेखा
Definition
The Public Account of India (Article 266(2)) holds money received by the government in trust or as deposits, such as provident funds, small savings, departmental deposits, and reserve funds. The government acts as a banker for these funds. Money in the Public Account does not belong to the government and can be spent without Parliamentary approval.
How Public Account of India Appears in India's Budget
NPS contributions flow through the Public Account — a significant pool of funds that enhances net receipts if retained instead of going to the market.
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Why Public Account of India Matters
Understanding public account of india is essential for anyone following government finances, preparing for competitive exams, or analysing India's economic policy. This concept directly affects how the government allocates resources and plans its fiscal strategy.
In the context of India's Union Budget 2026-27, with a total size of Rs 53.47 lakh crore, terms like public account of india help citizens and analysts evaluate whether the government is on the right fiscal path. The numbers in the budget are only meaningful when one understands the underlying concepts.
For UPSC aspirants, public account of india is frequently tested in both Prelims and Mains, particularly in Paper III (Economic Development). For CA and MBA students, this concept appears in public finance and macroeconomics courses.
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