Which of the following are credited to Public Account of India 1 Provident fund deposits 2 Loans rai...........

Indian Polity Parliamentary Committees

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Which of the following are credited to Public Account of India?

1. Provident fund deposits

2. Loans raised by issuing Treasury bills

3. Remittances

4. Saving bank deposits

Select the correct code:

1&3 only

1,3&4 only

2&4 only

All the above

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Explanation:

Public Account of India All other public money (other than those which are credited to the Consolidated Fund of India) received by or on behalf of the Government of India shall be credited to the Public Account of India.This includes provident fund deposits, judicial deposits, savings bank deposits, departmental deposits, remittances and so on. Hence option 1,3 and 4 are correct.
Consolidated Fund of India: It is a fund to which all receipts are credited and all payments are debited. In other words, (a) all revenues received by the Government of India; (b) all loans raised by the Government by the issue of treasury bills, loans or ways and means of advances; and (c) all money received by the government in repayment of loans forms the Consolidated Fund of India.
All the legally authorised payments on behalf of the Government of India are made out of this fund. Hence option 2 is incorrect.