Finance Secretaries' Conference
CAG asks states to finalise monthly accounts earlier
This story was originally published at 22:35 IST on 8 October 2024
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NEW DELHI – The Comptroller And Auditor General of India today held the first ever conference of state finance secretaries in the national capital, where it asked states to close the monthly accounts earlier, preferably by 10th of the next month, the audit institution said in a release. Currently, monthly accounts of states are finalised by the 25th of the succeeding month.
"The conference deliberated on a host of subjects relating to the state finances, fiscal parameters, repository of fiscal information, harmonisation of expenditure classification at the primary level of expenditure across the states, advancing the closure of monthly accounts of the states, preferably by 10th of the next month and review of practices relating to utilisation certificates against the grants against the states," the auditor said in the release.
The conference was attended by Expenditure Secretary Manoj Govil, senior officials from the finance ministry, finance secretaries of states, and representatives from the Reserve Bank of India, among others. The aim of the conference was to reach out to stakeholders and strengthen communication with state governments to address public financial management issues, including strengthening of transparent and accountable financial reporting and its reforms, the auditor said.
Comptroller and Auditor General of India Girish Chandra Murmu said there was a need to harmonise expenditure at the disaggregate level of object heads for all states and the central government. End
Reported by Shubham Rana
Edited by Avishek Dutta
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