Q. With reference to the Public Account of India, consider the following statements:
1. There is no legislative control over the spending of funds from the Public Account.
2. National Small Savings Fund created in 1999 comes under Public Account of India.
Which of the statements given above is/are correct?
Answer: C
Notes:
Exp) Option c is the correct answer.
Statement 1 is correct. There is no legislative control over the use of funds from the Public Account. This account is operated by executive action, that is, the payments from this account can be made without parliamentary appropriation.
Statement 2 is correct. National Small Savings Fund created in 1999 comes under Public Account of India. All deposits under small savings schemes are credited to the National Small Savings Fund.
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