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</p> Signup and view all the answers

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

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

    What minor head includes expenditures on surveys and research?

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

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

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

    What distinguishes contributory from non-contributory provident funds?

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

    What is the primary focus of the capital account mentioned?

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

    What type of charges are deducted from the capital account?

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

    What does the term 'capital bearing dividend' reference?

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

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

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

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

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

    Which of the following is described as a capital outlay?

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

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

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

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

    <p>Government Audits</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.</p> Signup and view all the answers

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

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

    What does Minor Head 119 specifically focus on?

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

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

    <p>Railway Safety Fund</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.</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</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</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</p> Signup and view all the answers

    Which account is specifically for inter-Government adjustment transactions?

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

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

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

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

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

    What is the main purpose of the Exchange Accounts?

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

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

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

    Which category encompasses the rental payments for signaling and telecommunication?

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

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

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

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

    <p>Allowances</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</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</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</p> Signup and view all the answers

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

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

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

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

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

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

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

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

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

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

    Which of the following accounts does NOT bear interest?

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

    What captures transactions specifically for adjustments related to foreign governments?

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

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

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

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

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

    What is the maximum expenditure limit for unremunerative operating improvements?

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

    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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    Related Documents

    List of Major and Minor Heads of Account of Railway Revenue, PDF

    Description

    Explore the major and minor heads of account used in Indian Railways, focusing on revenue, capital, debt, and remittance transactions. This quiz covers the details of the Consolidated Fund of India and associated receipts. Perfect for those studying financial management in the railway sector.

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