Tag

• UGI USER
• asset management economic governance Fiscal Responsibility fiscal transparency future liabilities government accounting government assets India Economy India fiscal policy liabilities management public assets public debt public financial management public sector assets sustainable public finance
• 7
• 0

India Must Account for Public Assets & Liabilities

INDIA MUST ACCOUNT FOR PUBLIC ASSETS AND FUTURE LIABILITIES Syllabus: GS-2: Statutory Bodies, Quasi Judicial Bodies WHY IN THE NEWS ? Fiscal Transparency: India’s public accounting system remains largely cash-based, recording transactions when payments occur rather than when obligations arise or assets lose value. Hidden Liabilities: Deferred subsidy payments, government guarantees, pension commitments and unpaid …

Read More