<p>Ahead of the 2024 Lok Sabha elections, Finance Minister Nirmala Sitharaman will present India's 15th interim budget on February 1.</p><p>To understand the government’s expenditure, certain key terms and financial indicators like Public Accounts need to be understood.</p>.Union Budget 2024 | What is Expenditure Budget?.<p><strong>What is Public Account?</strong></p><p>Constituted under Article 266 (2) of the Constitution, this fund accounts for flow of those transactions wherein the government is merely a banker.</p><p>These funds do no belong to the government. Hence, no parliamentary authorisation is required for withdrawal and they have to be paid back to the depositors. However, money allocated from the consolidated fund for specific objectives or projects to the Public Account has to go through a vote of the Parliament before its withdrawal.</p>.Union Budget 2024 | What is the Bare Necessities Index?.<p><strong>What does the Account comprise of?</strong></p><p>Public Account comprises of Provident Funds, Small Savings collections, the income of government set apart for expenditure on specific objects such as road development, primary education, other Reserve/Special Funds among other things.</p>
<p>Ahead of the 2024 Lok Sabha elections, Finance Minister Nirmala Sitharaman will present India's 15th interim budget on February 1.</p><p>To understand the government’s expenditure, certain key terms and financial indicators like Public Accounts need to be understood.</p>.Union Budget 2024 | What is Expenditure Budget?.<p><strong>What is Public Account?</strong></p><p>Constituted under Article 266 (2) of the Constitution, this fund accounts for flow of those transactions wherein the government is merely a banker.</p><p>These funds do no belong to the government. Hence, no parliamentary authorisation is required for withdrawal and they have to be paid back to the depositors. However, money allocated from the consolidated fund for specific objectives or projects to the Public Account has to go through a vote of the Parliament before its withdrawal.</p>.Union Budget 2024 | What is the Bare Necessities Index?.<p><strong>What does the Account comprise of?</strong></p><p>Public Account comprises of Provident Funds, Small Savings collections, the income of government set apart for expenditure on specific objects such as road development, primary education, other Reserve/Special Funds among other things.</p>
