Economics · Indian Public Finance and Budgeting
Which of the following statements regarding the Indian budgetary framework and expenditure classification is/are correct? 1. The Public Account of India, governed by Article 266(2), involves transactions where the government acts as a banker, such as for provident funds and small savings. 2. Automatic monetisation of the central government deficit through ad-hoc Treasury Bills was officially abolished in 1997. 3. Under the Indian Constitution, the salaries and allowances of High Court judges are charged upon the Consolidated Fund of the State and do not require a vote by the Legislative Assembly.
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