Account Heads in Indian Railways
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Questions and Answers

Which revenue source includes funds recovered from work done for outside parties?

  • Receipts from Catering Department
  • Rents and tolls
  • Overhead charges and profits (correct)
  • Sale proceeds of unserviceable revenue scrap

What is deducted from the revenue receipts in the financial accounts?

  • Overhead charges
  • Refunds (correct)
  • Traffic accounts
  • Sales of stores

Which of the following options represents a minor head under major head 3001?

  • Railway Policy formulation
  • Statutory Audit charges
  • Payment to Worked Lines
  • Railway Board Direction (correct)

Which type of services are classified under Major Head 3002?

<p>General Superintendence &amp; General Management (D)</p> Signup and view all the answers

Which of the following is NOT included in the economic services expenditure heads?

<p>Overhead charges (C)</p> Signup and view all the answers

What minor head includes expenditures on surveys and research?

<p>Research Designs and Standards Organisation (D)</p> Signup and view all the answers

What is the purpose of the financial management head in Major Head 3002?

<p>To manage revenue and expenses (B)</p> Signup and view all the answers

What is the maximum cost for works aimed at providing amenities for staff?

<p>Rs. 25,000 each (A)</p> Signup and view all the answers

What percentage return is considered to classify a work as remunerative?

<p>6-75 percent (A)</p> Signup and view all the answers

Which of the following is NOT a sub-head under the minor head for providing amenities?

<p>Railway Development Fund (D)</p> Signup and view all the answers

What is the purpose of the minor head 'Other Miscellaneous Provident Funds'?

<p>To track transactions of various provident funds (C)</p> Signup and view all the answers

What distinguishes contributory from non-contributory provident funds?

<p>Requirement of employee contributions (D)</p> Signup and view all the answers

What is the primary focus of the capital account mentioned?

<p>Capital outlay on Indian Railways (A)</p> Signup and view all the answers

Which of the following is NOT listed as a minor head under the capital account of economic services?

<p>Infrastructure Maintenance (A)</p> Signup and view all the answers

What type of charges are deducted from the capital account?

<p>Establishment Charges (B)</p> Signup and view all the answers

What does the term 'capital bearing dividend' reference?

<p>Investment returns on capital outlay (C)</p> Signup and view all the answers

Which minor head is responsible for liabilities related to manufacturing suspense?

<p>Manufacturing Suspense (D)</p> Signup and view all the answers

What is the overarching category under which the capital account falls?

<p>Economic Services (A)</p> Signup and view all the answers

Which of the following is described as a capital outlay?

<p>Capital Outlay on Indian Railways (C)</p> Signup and view all the answers

What does the term 'overcapitalisation' imply in the provided context?

<p>Inflated capital valuations (B)</p> Signup and view all the answers

What process might affect the financial reporting of the railway's capital account?

<p>Government Audits (D)</p> Signup and view all the answers

What is the purpose of the Major Head 900 in the context of railway funds?

<p>It includes deducting amounts from various railway reserve funds. (C)</p> Signup and view all the answers

Which Minor Head is associated with projects aimed at improving electrical infrastructure?

<p>105 Electrification Projects (D)</p> Signup and view all the answers

Which of the following is NOT listed as a deductible under the Major Head 900?

<p>Railway Operating Fund (A)</p> Signup and view all the answers

What does Minor Head 119 specifically focus on?

<p>Converting level crossings into road overpasses or underpasses. (D)</p> Signup and view all the answers

What is the significance of Sub-Major Head 03 Capital Outlay?

<p>It oversees the financial planning for capital investments. (C)</p> Signup and view all the answers

Which of the following heads involves funding for the restoration of dismantled railway lines?

<p>116 Restoration of Dismantled Lines (A)</p> Signup and view all the answers

Which fund is used to manage safety measures specifically for railway operations?

<p>Railway Safety Fund (A)</p> Signup and view all the answers

What is indicated by the note that Sub-Major Heads ‘01-Capital Outlay bearing dividend Liability’ will not be operational from 01.04.2019?

<p>All fresh transactions will be halted under this category. (B)</p> Signup and view all the answers

Which option involves the financing of passenger amenities according to the Minor Heads?

<p>110 Passenger &amp; other Railway Users’ Amenities (A)</p> Signup and view all the answers

Which Minor Head is responsible for managing funding related to workshops and production units?

<p>108 Workshops including Production Units (A)</p> Signup and view all the answers

What is recorded under the major head for miscellaneous receipts?

<p>Miscellaneous receipts from Departments not connected with Railways (A)</p> Signup and view all the answers

Which account is specifically for inter-Government adjustment transactions?

<p>Adjusting Account with Defence (B)</p> Signup and view all the answers

What does the minor head for receipts from 'Examination Fees' include?

<p>Distinct sub-heads below the minor head (B)</p> Signup and view all the answers

What type of balance does the Ledger Balance Adjustment Account manage?

<p>Government account closures (C)</p> Signup and view all the answers

Which of the following accounts includes receipts from the Coal Grading Board?

<p>Miscellaneous Government Account (A)</p> Signup and view all the answers

What is the main purpose of the Exchange Accounts?

<p>Facilitate accounts between Railway accounting units (A)</p> Signup and view all the answers

Which type of transactions does the 'Cash Remittances and Adjustments' account deal with?

<p>Transfers within the same Railway (B)</p> Signup and view all the answers

What is the primary function of the minor head related to Government miscellaneous receipts?

<p>Record unclassified receipts (B)</p> Signup and view all the answers

What is noted about receipts from subsidized Railways?

<p>They are noted in the major head without capital interest. (A)</p> Signup and view all the answers

What does the minor head 'Other Receipts' signify?

<p>Receipts from various sources like sale of application forms (D)</p> Signup and view all the answers

Which of the following options includes the maintenance of tunnels and road over/under bridges?

<p>Permanent Way &amp; Works (C)</p> Signup and view all the answers

What aspect of repairs and maintenance does the major head related to Electric Locomotives cover?

<p>Maintenance expenses for electric general services (A)</p> Signup and view all the answers

Which minor head is directly related to overall repairs and maintenance of carriages and wagons?

<p>Carriages and Wagons (B)</p> Signup and view all the answers

Under which category are the expenses for staff quarters and welfare buildings excluded?

<p>Service buildings maintenance (B)</p> Signup and view all the answers

What type of repairs does the minor head of special repairs pertain to?

<p>Accidents and disaster recovery (C)</p> Signup and view all the answers

Which category encompasses the rental payments for signaling and telecommunication?

<p>Plant &amp; Equipment-Signalling (D)</p> Signup and view all the answers

Which option does NOT consist of the maintenance of electric multiple unit coaches?

<p>Maintenance of Service buildings (B)</p> Signup and view all the answers

What is the main responsibility of Railway Accounts Officers concerning railway freight and treasure remittance?

<p>Submit monthly bills to the Central Accounts Section of the Reserve Bank. (B)</p> Signup and view all the answers

Which sub-head involves payments in advance of cash credits to be received from Pakistan?

<p>General Provident Fund. (B), State Railway Provident Fund. (C)</p> Signup and view all the answers

Which transaction does NOT fall under the classifications mentioned for the minor head discussed?

<p>Grant payments to private railway operators. (A)</p> Signup and view all the answers

What is included in the transactions recorded under the minor head that collects all transactions with the States?

<p>Adjustments made for inter-departmental cash transfers. (C)</p> Signup and view all the answers

Which minor head accommodates the repayments of amounts deposited under the Additional Wages Deposits Account?

<p>Repayment of Additional Dearness Allowance Deposits. (A)</p> Signup and view all the answers

Which category does NOT fall under the minor head related to Railway Expenditures?

<p>Income from Investments (D)</p> Signup and view all the answers

What type of charges is included under Other Charges within Expenditure classifications?

<p>Allowances (C)</p> Signup and view all the answers

Which of the following constitutes a valid sub-head for the minor head of Railway Earnings?

<p>Welfare Buildings (C)</p> Signup and view all the answers

Which expenditure does NOT require a survey to be completed for accounting purposes?

<p>Maintenance of Existing Bridges (D)</p> Signup and view all the answers

Which of the following is NOT a sub-head under the expenses related to Officers?

<p>Consultant Fees (B)</p> Signup and view all the answers

What is included in Pensionary Charges according to the provided classification?

<p>Superannuation Pension (A)</p> Signup and view all the answers

What aspect of surveys does the text explicitly exclude from transfer to accounts?

<p>Periodical Aerial Surveys (B)</p> Signup and view all the answers

Which type of works is cited under the minor head for new lines taken after April 1, 1955?

<p>Other than Financial Consideration (B)</p> Signup and view all the answers

Which of the following best defines 'Welfare Buildings' in the context of Railway Financial management?

<p>Facilities aimed at personnel well-being (C)</p> Signup and view all the answers

What does the term 'Other Charges' encompass within the expenditure classification?

<p>Loss of Cash (C)</p> Signup and view all the answers

Which fund specifically manages the finances related to employees' pensions within the railway sector?

<p>Railway Pension Fund—Commercial Lines (A)</p> Signup and view all the answers

What type of deposits are included under 'Deposits Bearing Interest'?

<p>Staff Benefit Fund (Railways)—Investment Account (B)</p> Signup and view all the answers

Which account primarily deals with transactions relating to the Reserve Bank?

<p>Suspense Account (Railways) (A)</p> Signup and view all the answers

Which of the following accounts does NOT bear interest?

<p>Unclaimed Provident Fund Deposits (A)</p> Signup and view all the answers

What captures transactions specifically for adjustments related to foreign governments?

<p>Accounts with Governments of foreign countries (A)</p> Signup and view all the answers

What is the main purpose of the 'Trust Interest Account'?

<p>To hold deposits that earn interest (D)</p> Signup and view all the answers

Which account category is responsible for managing both departmental and miscellaneous balances?

<p>Departmental Balances (B)</p> Signup and view all the answers

What type of fund is classified under 'Non-Contributory IRCA Employees Provident Fund'?

<p>Fund that does not require employee contributions (D)</p> Signup and view all the answers

Which type of deposit reflects funds earmarked for railway employee benefits?

<p>Staff Benefit Fund (Railways)—Strategic Lines (A)</p> Signup and view all the answers

What is the maximum expenditure limit for unremunerative operating improvements?

<p>Rs. 3 lakhs (D)</p> Signup and view all the answers

What is the main characteristic of a work classified as remunerative?

<p>It provides a net return of at least 6-75% on its estimated cost. (C)</p> Signup and view all the answers

Which of the following is not a sub-head under the minor head for provident funds?

<p>Ex-N.S. Railway Provident Fund (Guaranteed) (A)</p> Signup and view all the answers

Which statement accurately describes the purpose of the minor head 'Other Miscellaneous Provident Funds'?

<p>It records transactions of various contributory funds. (D)</p> Signup and view all the answers

What does the special contribution to the Provident Fund for non-pensionable employees relate to?

<p>It is recorded under minor head E-700. (D)</p> Signup and view all the answers

Which of the following identifies what a work will be considered, if it does not provide a financial return?

<p>Unremunerative improvements (C)</p> Signup and view all the answers

Which of the following activities is excluded from the minor works related to amenities for staff?

<p>Constructing roads for user amenities (A)</p> Signup and view all the answers

Which minor head is specifically categorized for loans to railwaymen's consumer co-operative societies?

<p>Minor Head E-700 (B)</p> Signup and view all the answers

What is the estimated return percentage required for a project to be classified as remunerative?

<p>6-75% (A)</p> Signup and view all the answers

Which fund is designated to manage the State Railway Provident Fund for pensionable employees?

<p>State Railway Provident Fund (Contributory) (B)</p> Signup and view all the answers

Flashcards

Major Head 146 - 'Revenue Receipts (7)' under Indian Railways: Strategic Lines

The revenue receipts from various sources on Indian Railways including rents, tolls, catering, sale proceeds of unclaimed goods, and miscellaneous sources.

EXPENDITURE HEADS (REVENUE ACCOUNT) - Economic Services (c) - Railways (f)

This represents the expenditure on managing Indian Railways from various aspects like Policy Formulation, Commercial Lines, Working Expenses etc.

Minor Head 1 - 'Railway Board (8)' under Policy Formulation in Indian Railways

The Railway Board is responsible for overall direction, research, and various miscellaneous activities related to the Indian Railways.

Minor Heads 2 & 3: 'Surveys (9 & 10)' and 'Research Designs and Standards Organisation (8)' under Policy Formulation in Indian Railways

This covers various activities related to planning and implementing the railway system such as surveys, research, designs, and standards.

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Minor Head 4 - 'Miscellaneous Establishments (8 & 11)' under Policy Formulation in Indian Railways

Managing various establishments associated with the Indian Railways, such as offices and depots.

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Minor Head 5: 'Statutory Audit including Pensionary Charges etc.(12 & 10)' under Policy Formulation in Indian Railways

Ensuring the financial integrity of the Indian Railways by auditing accounts and managing pensionary charges.

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Major Head 3002 - 'Indian Railways - Commercial Lines - Working Expenses (17)'

This represents the various expenses incurred for maintaining and operating the commercial lines of the Indian Railways, including general management, financial management, personnel management, and more.

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Minor Head - New Minor Works

This minor head includes expenses for providing amenities to railway staff, including staff quarters, costing under Rs. 25,000 each. It also covers unremunerative operating improvements costing less than Rs. 3 lakhs each and other new minor works, except those relating to user amenities.

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Remunerative Works

A work is considered remunerative if it directly increases railway revenue or reduces expenses enough to generate a 6-7.75% net return on its estimated cost, including land.

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Minor Heads - Railway Development Fund & Railway Revenue Reserve Fund

This head is for recording transactions related to two types of funds: (i) Railway Development Fund and (ii) Railway Revenue Reserve Fund.

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Minor Head - State Railway Provident Fund

This head is used for transactions related to the State Railway Provident Fund, divided into contributory (for non-pensionable employees) and non-contributory (for pensionable employees).

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Minor Head - Transferred Railway Personnel Provident Fund

This head tracks transactions related to the Transferred Railway Personnel Provident Fund, also divided into contributory and non-contributory categories for different types of employees.

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Payment Towards Amortisation

The process of paying back the principal amount of a loan over time; also called amortization.

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Overcapitalisation

An excessive amount of capital invested in a business, often leading to inefficiency and low returns.

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5002 Capital Outlay on Indian Railways – Commercial lines (01)

The major category in the Indian Railways budget that covers capital investments in commercial lines.

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Manufacturing Suspense Liability

Financial liabilities incurred in the manufacturing process that are not yet fully accounted for.

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Rolling Stock

The assets that directly move people and goods on the railway network, such as trains, locomotives, and wagons.

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Track Renewals

The process of replacing or repairing worn-out track sections to maintain the railway's structural integrity.

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Bridge Works

The construction and maintenance of bridges that allow the railway to cross rivers, roads, or other physical barriers.

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Major Heads/ Sub-Major Heads

A sub-category within the Indian Railways budget focusing on expenditures on infrastructure.

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Minor Heads

Specific items of expenditure within a major head of the Indian Railways budget, such as manufacturing suspense, rolling stock, and bridge works.

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Stores Suspense

A temporary account used to track payments for goods or services that haven't been received yet. It helps to avoid confusion in accounting records when the exact cost of the goods is unknown.

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Capital Account

An account where the initial cost of railway assets (land, infrastructure, equipment) is recorded. It acts as a holding account before final allocation.

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Railway Depreciation Reserve Fund

A fund where the depreciation cost of fixed assets is accumulated over time. This money can be used to replace aging assets.

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Railway Development Fund

A fund used to finance specific development projects, like building new lines or upgrading infrastructure.

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Railway Pension Fund

A fund used to finance retirement benefits for employees, like pensions.

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Railway Safety Fund

A fund used for specific purposes like maintenance or safety improvements. This fund can be used to cover unexpected expenses.

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Special Railway Safety Fund

A special fund dedicated to safety improvements, potentially covering more specific safety projects than the general Railway Safety Fund.

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Open Line Works (Revenue Works)

A major head used to account for expenses related to maintaining and upgrading existing railway lines, for example, repairs and renewals.

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Railway Capital Fund

A fund used to finance different types of railway projects, including new infrastructure purchases.

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Deduct - Amount met from ...

The process of recording how money from various funds contributes to a specific expenditure. It's a way to clarify the sources of the funds used for a project.

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Miscellaneous Government Account

A category of accounts that handles miscellaneous receipts from departments not related to railroad operations, like subsidies and revenue from non-railroad investments.

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Ledger Balance Adjustment Account

This account keeps track of financial adjustments and write-offs at the end of an accounting period.

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Cash Remittances and Adjustments Transfers within the Same Railway

This category includes various types of money transfers and adjustments between different departments within the same railroad, often handled by the same financial officer.

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Adjusting Account with Posts & Telegraph

This specific account manages financial adjustments between the railroad and the Post & Telegraph Department.

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Adjusting Account with Defence

This account records financial dealings between the railroad and the Defense Department.

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Accounts with States etc. (Railways)

This account manages financial interactions between the railroad and various state-level entities.

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Exchange Accounts

This account is dedicated to recording exchange transactions between different parts of the railroad.

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Accounts Between Railways

A specific account for managing financial interactions between different railroad entities.

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Examination Fees and Other Receipts

This account is for recording revenue generated from things like examination fees and other miscellaneous receipts from the Railway Recruitment Board.

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Unclassified Receipts

This account gathers all miscellaneous revenue not specifically classified elsewhere, such as income from investments in other industries.

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Special Repairs & Maintenance

A specialized type of repair and maintenance work focusing on addressing situations like breaches, accidents, and other unexpected events, which may also include revenue-generating initiatives.

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Operating Expenses - Rolling Stock & Equipment

Expenses related to acquiring, maintaining, and operating rolling stock, such as locomotives, carriages, and wagons.

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Establishment in Offices

Covers the establishment and operations of offices, depots, and other crucial facilities necessary for managing the day-to-day activities of railway operations.

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Repairs & Maintenance of Departments

Includes repairs and maintenance of different railway departments like signals, telecommunications, plant and equipment.

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Permanent Way & Works

Consists of expenses related to providing and maintaining the railway infrastructure, such as permanent way (tracks), bridges, tunnels, and service buildings.

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Locomotive Maintenance

Includes costs associated with the acquisition and maintenance of various types of engines and related equipment, like steam locomotives, diesel locomotives, and electric locomotives.

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Carriages and Wagons Maintenance

Encompasses the repairs and upkeep of carriages and wagons, including electric multiple unit coaches, as well as maintenance of electrical systems for train lighting, fans, and air conditioning.

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Deposits and Advances

This account tracks deposits and advances made by the railways, including those for various railway funds.

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Deposits not Bearing Interest

This category represents deposits that don't earn interest, like deposits made by government companies and corporations.

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Suspense Account

This account holds various suspense items, including transactions related to the Reserve Bank, Bangladesh, Pakistan debt settlements, and various deposit-related adjustments.

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Cost of railway freight in connection with remittance of treasure

This sub-head records the adjustment of the cost of Railway freight associated with sending money (treasure) to different locations.

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Repayment of Additional Dearness Allowance Deposits

This sub-head covers the repayment of amounts deposited under the Additional Dearness Allowance Deposit Account, often used for employee benefits.

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Repayments of Additional Wages Deposits

This category records the repayment of amounts specifically deposited into the Additional Wages Deposits Account.

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Fines, Forfeitures and Payments Related to Contractors Gone to Pakistan

This head covers various financial transactions involving fines, forfeitures, and payments related to contractors who went to Pakistan, particularly those concerning provident funds and pensions.

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Second Installment of Additional Dearness Allowance Deposits

This head records the second installment of deposits made for additional dearness allowance, which are later repaid to employee provident funds.

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What makes a "remunerative" work?

A work is considered "remunerative" if it directly increases railway revenue or reduces expenses enough to generate a 6-7.75% net return on its estimated cost, including land.

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What are the Railway Development Fund & Railway Revenue Reserve Fund?

This head is for recording transactions related to two types of funds: (i) Railway Development Fund and (ii) Railway Revenue Reserve Fund.

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What is the State Railway Provident Fund?

This head is used for transactions related to the State Railway Provident Fund, divided into contributory (for non-pensionable employees) and non-contributory (for pensionable employees).

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What is the Transferred Railway Personnel Provident Fund?

This head tracks transactions related to the Transferred Railway Personnel Provident Fund, also divided into contributory and non-contributory categories for different types of employees.

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What is the 'New Minor Works' limit?

This minor head includes expenses for providing amenities to railway staff, including staff quarters, costing under Rs. 25,000 each. It also covers unremunerative operating improvements costing less than Rs. 3 lakhs each and other new minor works, except those relating to user amenities.

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What are the cost limits for 'New Minor Works'?

These "New Minor Works" are limited to Rs. 25,000 for amenities for staff and Rs. 3 lakhs for unremunerative operating improvements.

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What is the "New Minor Works" head all about?

This head will show expenditure on works for providing amenities 'for staff (including staff quarters) costing not more than Rs. 25,000 each, unremunerative operating improvements costing not more than Rs. 3 lakhs each, and all other works falling within the "New Minor Works" limit, excepting those relating to provision of amenities for all "Users of Railway Transport".

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Study Notes

Appendix IV - List of Major and Minor Heads of Account

  • This document details the major and minor heads of account for railway revenue, capital, debt, and remittance transactions.
  • Changes in head names or introductions of new ones are not within the remit of railway administrations.
  • Account numbers in brackets refer to accompanying explanatory notes.
  • Major and minor expenditure heads fall under either Consolidated Fund of India, Contingency Fund of India, or Public Account of India, as per paragraph 208.

Part I - Consolidated Fund - Revenue

  • This section lists major and minor receipt heads under the Consolidated Fund of India.
  • It includes non-tax and other non-tax revenue, specifically economic services within the revenue account.

Major Heads/Sub-Major Heads - Indian Railway

    1. Indian Railway - Miscellaneous Government share of surplus profits from subsidized companies. This includes sale of land, Railway recruitment board, and miscellaneous receipts.
    1. Indian Railway - Commercial Line Revenue Receipts (Coaching Earnings)
    1. Passengers
    1. Special trains and reserved carriages
    1. Luggage
    1. Parcels
    1. Other coaching traffic
    1. Transport of Post Office Mails
    1. Miscellaneous coaching receipts
    1. Deduct-Refunds

Part II - Contingency Fund

  • This section deals with the Contingency Fund, similar in structure to the Consolidated Fund.

Part III - Public Account - Capital

  • This section details expenditure heads for capital accounts of economic services relating to Railways.

Major Heads/Sub-Major Heads - Capital Account

    1. Capital Outlay on Indian Railways details capital expenditure on various railway assets.

Minor Heads - Capital Account

  • This section contains various minor heads within the broad categories identified by major heads (e.g., manufacturing suspense, rolling stock, track renewals, etc.).

Miscellaneous information (Pages 3-11):

  • Further details of major and minor heads, their sub-sections, and explanatory notes are included on subsequent pages.
  • Specific details about repairs and maintenance of permanent way, motive power, carriages and wagons, plant and equipment, and operating expenses are detailed.
  • Other key categories such as general superintendence; staff welfare; miscellaneous working expenses and provident fund; and retirement benefits are also covered in this section.

Section II - Capital

  • This section contains headings for major and minor heads of capital consolidated fund and public debt loans.
    • Expenditure heads and capital accounts (economic services) are listed, including details like manufacturing suspense, rolling stock, track renewals, bridge works, electrification projects, other electrical works, machinery and plant, workshops, staff quarters, and more.

Section III - Railway Remittances

  • Information about accounting transactions and transfers within and between railways.
  • This section presents details concerning remittances, transactions, and adjustments between various accounting entities.
    • Explanatory notes illustrate the accounting procedures and processes employed by railways, including cash remittances, adjustments, and inter-government accounts.

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