<p>Union Finance Minister <a href="https://www.deccanherald.com/tags/Nirmala-Sitharaman">Nirmala Sitharaman</a> will, on February 1, present a record eight consecutive Union Budget.</p><p>The Budget contains several heads, which need to be understood to comprehend the document.</p><p>With the unveiling of India's financial plans for the year mere days away, we take a look what public account means.</p>.<p><strong>What is Public Account?</strong></p><p>Constituted under Article 266 (2) of the Constitution, this fund accounts fpr those transactions wherein the funds belong to others and the government is merely a banker.</p><p>Because these funds do not belong to the goverment, no approval from Parliament is required for withdrawal when they have to be paid back to the depositors.</p><p>However, money allocated from the Consolidated Fund of India for specific objectives or projects to the Public Account has to go through a vote of the Parliament before it can be withdrawn.</p>.Union Budget 2026 | FAQs: What is a Finance Bill?.<p><strong>What does the Public Account comprise of?</strong></p><p>The Public Account of India has five sub-heads. They are:</p><p>1. Small savings—provident funds and other accounts</p><p>2. Reserve funds</p><p>3. Deposits and advances</p><p>4. Suspense and miscellaneous</p><p>5. Remittances</p>
<p>Union Finance Minister <a href="https://www.deccanherald.com/tags/Nirmala-Sitharaman">Nirmala Sitharaman</a> will, on February 1, present a record eight consecutive Union Budget.</p><p>The Budget contains several heads, which need to be understood to comprehend the document.</p><p>With the unveiling of India's financial plans for the year mere days away, we take a look what public account means.</p>.<p><strong>What is Public Account?</strong></p><p>Constituted under Article 266 (2) of the Constitution, this fund accounts fpr those transactions wherein the funds belong to others and the government is merely a banker.</p><p>Because these funds do not belong to the goverment, no approval from Parliament is required for withdrawal when they have to be paid back to the depositors.</p><p>However, money allocated from the Consolidated Fund of India for specific objectives or projects to the Public Account has to go through a vote of the Parliament before it can be withdrawn.</p>.Union Budget 2026 | FAQs: What is a Finance Bill?.<p><strong>What does the Public Account comprise of?</strong></p><p>The Public Account of India has five sub-heads. They are:</p><p>1. Small savings—provident funds and other accounts</p><p>2. Reserve funds</p><p>3. Deposits and advances</p><p>4. Suspense and miscellaneous</p><p>5. Remittances</p>
