Financial
Karnataka

Report No.1 of 2020 - State Finance, Government of Karnataka

Date on which Report Tabled:
Tue 22 Sep, 2020
Date of sending the report to Government
Thu 03 Sep, 2020
Government Type
State
Sector Finance

Overview

Karnataka is the eight largest State in India in terms of population (6.11 crore population as per 2011 census) and has geographical area of 1.92 lakh square kilometres. The Gross State Domestic Product (GSDP) in 2018-19 at current prices was Rs 14,08,112 crore. The State’s literacy rate has increased from 66.64 per cent (census 2001) to 75.40 per cent (census 2011).

Based on the audited accounts of the Government of Karnataka for the year ended 31 March 2019, the Report provides an analytical review of the Annual Accounts of the State Government. The financial performance of the State has been assessed based on the Karnataka Fiscal Responsibility Act 2002, Budget documents, Fourteenth Finance Commission (XIV FC) and other financial data obtained from various Government departments and organizations.  The report is structured in three chapters.

Chapter I is based on the audit of Finance Accounts and makes an assessment of Government of Karnataka’s fiscal position as at 31 March 2019.  It provides an insight into trends in Committed Expenditure and borrowing pattern and certain accounting adjustments that have a bearing on the fiscal parameters.

Chapter II is based on the audit of Appropriation Accounts and gives description of appropriations and the manner in which the allocated resources were managed by the service delivery departments. Issues of budgeting affecting transparency of transactions are also brought out in this Chapter.

Chapter III is an inventory of Karnataka Government’s compliance with various reporting requirements and financial rules.

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