Enormous amounts of public funds flow to India’s state-owned enterprises every year. These institutions deliver critical goods and services such as electricity, water, roads, schools and hospitals; they are a primary source of jobs; they generate significant revenue for the country; they account for one quarter of the nation’s GDP. If these firms aren’t managed properly, precious funds will be wasted.
This is the first part of the main report of the committee constituted to review the list of major and minor heads of accounts of Union and States. The report looks at the current classification system and proposes a new classification system thereafter, also addressing implementation.
This is the second part of the report of the committee constituted to review the list of major and minor heads of accounts of Union and States which is a compendium of accounting classification codes for Union and States.
This Annexure constitutes the order for the need to formulate the committee for review of list of major and minor head of accounts.
This report compares the devolution of funds to local governments, as well as brings to light good practices initiated by States since 2011 to strengthen local administration