---
title: "Public Account of India: Article 266(2) | Model Diplomat"
description: "The Public Account of India holds funds the government merely holds in trust under Article 266(2), needing no parliamentary vote — unlike the Consolidated Fund."
url: "https://modeldiplomat.com/learn/glossary/public-account-of-india"
---

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Model Diplomat Research Team · Last reviewed June 22, 2026

TL;DR

- The Public Account of India is the constitutional account under Article 266(2) holding money where the government acts as banker or trustee rather than owner.
- Does expenditure from the Public Account of India require parliamentary approval?
- What is the difference between the Consolidated Fund and the Public Account of India?
- What kinds of money are credited to the Public Account of India?
- Why does the CAG scrutinise the Public Account?

[Civil Service & Diplomatic Exams](https://modeldiplomat.com/learn/civil-services/glossary)Updated June 22, 2026

The Public Account of India is the constitutional account under Article 266(2) holding money where the government acts as banker or trustee rather than owner.

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In its 2021–22 audit reports, the Comptroller and Auditor General of India observed that proceeds of the GST Compensation Cess were retained in the Public Account rather than transferred in full to the designated Compensation Fund.

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