the goan I network
PANAJI
Chief Minister Pramod Sawant has proposed introducing the system of double entry accounting for self-governing bodies.
Sawant in his budget speech said that this was one of the suggestions given by Chartered Accountants, which the government has incorporated in the Budget, and which will help local bodies get Central funding.
Sawant said that since Goa has a two-tier system of local self-government under the Panchayat Raj (191 village panchayats and 2 zilla panchayats along with 14 municipal authorities), precise assessment of the finances of local bodies is important to ensure effective local self-governance. “I propose to train the staff of local bodies in double accounting system, with the help of Institute of Chartered Accountants of India- Goa Chapter. This is one of the criteria for accessing performance grants of Union Finance Commission. In continuation with this thought process, it is also proposed to empower the zilla panchayats in both the districts,” Sawant said.
For example, the government knows how many crores of rupees it spent on the Third Mandovi Bridge, but may not have an idea of how much the bridge is valued as of today.
With a double-entry accounting system, the government would have known Atal Setu’s value, or for example, the value of all the goods and services it has spent money on.
The government also proposes to reconstitute the State Finance Commission for a fresh term on a priority basis, as well as to introduce professional tax under local bodies to augment the revenue sources of these local self-governance bodies along with revamping of the District Planning Boards.
