{"id":237329,"date":"2023-04-11T19:14:51","date_gmt":"2023-04-11T13:44:51","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=237329"},"modified":"2023-04-11T19:14:51","modified_gmt":"2023-04-11T13:44:51","slug":"states-subsidy-accounting-must-be-transparent-cag","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/states-subsidy-accounting-must-be-transparent-cag\/","title":{"rendered":"States\u2019 subsidy accounting must be transparent: CAG"},"content":{"rendered":"\n<p><b>Source: <\/b><span style=\"font-weight: 400;\">The post is based on the article<\/span><b> \u201cStates\u2019 subsidy accounting must be transparent: CAG\u201d <\/b><span style=\"font-weight: 400;\">published in<\/span><b> The Hindu on 11th April 2023<\/b><\/p>\n<p><b>What is the News?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The Comptroller &amp; Auditor General (CAG) of India has addressed the Annual Accountant General\u2019s Conclave.<\/span><\/p>\n<p><b>What are the key highlights from his address?<\/b><\/p>\n<p><b>Firstly, <\/b><span style=\"font-weight: 400;\">States must take measures to maintain proper accounting of subsidies, reduce fiscal deficits, remove revenue deficits and keep outstanding debts at an acceptable level.<\/span><\/p>\n<p><b>Secondly<\/b><span style=\"font-weight: 400;\">, States should meet their capital expenditure, including loans and advances, from their own sources of revenue, or at least confine net debt to capital expenditure.<\/span><\/p>\n<p><b>Thirdly, <\/b><span style=\"font-weight: 400;\">States must distinguish between justifiable subsidies from freebies, which are not fiscally responsible.<\/span><\/p>\n<p><b>Fourthly, <\/b><span style=\"font-weight: 400;\">CAG has expressed concern over rising risks related to fiscal sustainability and financial indiscipline in many states due to off-budget borrowings, misclassification of revenue expenditure as capital expenditure and because State guarantees are not captured in finance accounting.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: The post is based on the article \u201cStates\u2019 subsidy accounting must be transparent: CAG\u201d published in The Hindu on 11th April 2023 What is the News? The Comptroller &amp; Auditor General (CAG) of India has addressed the Annual Accountant General\u2019s Conclave. What are the key highlights from his address? Firstly, States must take measures&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/states-subsidy-accounting-must-be-transparent-cag\/\">Continue reading <span class=\"screen-reader-text\">States\u2019 subsidy accounting must be transparent: CAG<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[10498],"class_list":["post-237329","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/237329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=237329"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/237329\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=237329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=237329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=237329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}