Audit Reports
Madhya Pradesh
Report of 2009 - Audit Report (State Finances) for the year ended 31 March 2009 of Government of Madhya Pradesh
Overview
In January 2006, the Madhya Pradesh Government enacted the Fiscal Responsibilities and Budget Management (FRBM) Act. It laid down a reform agenda through a fiscal correction path in the medium term with the long term goal of securing growth stability for its economy. The Government's commitment to carry forward these reforms is reflected in the policy initiatives announced in its subsequent budgets. The benefits of the FrBm legislation have been realised in terms of achieving of revenue and fiscal deficit targets relative to GSDP and keeping the ratio of total liabilities to GSDP within the ceiling limit of 40 per cent prescribed under the FRBM Act.
However, a host of institutional and sectoral reform measures will go a long way in building up the much needed 'fiscal space' for improving the quality of public expenditure and to promote fiscal stability. The Comptroller and Auditor General's (C&AG) Audit Reports have been commenting upon the Government's finances for over three years since the FRBM legislation. Since these comments formed part of the Civil Audit Report, it was felt that the audit findings on State finances remained camouflaged because the majority of audit findings were on compliance and performance audits. The obvious fallout of this all-inclusive reporting was that the audit findings on financial management did not receive proper attention. In recognition of the need to bring State finances to centre-stage once again, a stand-alone report on State Government finances was considered an appropriate audit response to this challenge. Accordingly, from the report year ended 2009 onwards, C&AG has decided to bring out a separate volume titled 'Report on State Finances.'
The report Based on the audited accounts of the Government of Madhya Pradesh for the year ended March 2009, this report provides an analytical review of the Annual Accounts of the State Government.Finance Accounts and gives an assessment of the Madhya Pradesh Government's fiscal position as at 31 March 2009. It provides an insight into the trends of committed expenditure and borrowing patterns besides giving a brief account of Central funds transferred directly to State implementing agencies through the off-budget route.Appropriation Accounts and gives a grant-wise description of appropriations and the manner in which the allocated resources were managed by the service delivery departments.Madhya Pradesh Government's compliance with various reporting requirements and financial rules. The report also compiles the data collated from various government departments/organisations in support of the findings.