PD accounts are created to discharge the liabilities of the government arising out of special enactment by debit to consolidated fund.
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Hyderabad: Telangana state is facing a financial crunch yet several departments have diverted funds into Personal Deposit (PD) accounts — the number of PD accounts created is the highest in the country.
There are 28,087 PD accounts of various departments with nearly Rs 10,873 crore lying in them. When the state government releases funds for development and for implementation of schemes, the departments divert the funds into PD accounts.
PD accounts are created to discharge the liabilities of the government arising out of special enactment by debit to consolidated fund.
The amount lying unspent after the purpose is met is required to be transferred to the government account.
( Source : Deccan Chronicle. )
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