Public Account of India

Public Account of India

Public Account of India accounts for flows for those transactions where the government merely acts as a banker. 

These funds do not belong to the government and have to be paid back at some time to their rightful owners. 

Expenditures from this account are not required to be approved by the Parliament.

This fund is constituted under Article 266 (2) of the Constitution. 

Examples of these are provident funds, small savings.