Accounting And Budgeting In Government: Spotlighting Completed, Ongoing, And Proposed Reforms

Book Code: 1111020937649

Subhash Chandra Pandey, Mahendra Prakash Gupta

ABOUT THE BOOK

The book takes the reader from basics to the outstanding issues and concerns about the system of government accounting and budgeting in India. It covers the basics of accounting, cash management, expenditure management, payment system, budget making system.

It pays attention to the theme of 'fiscal transparency', an important need of democratic governance and 'fiscal responsibility' about how taxation, borrowing and spending affect us all. It has detailed overview of completed, ongoing, contemplated and possible reforms.

This spotlighting of the reforms agenda is the core theme of the book and in that respect it is not a textbook on government accounts but provides food for thought to every interested person.
All elected public representatives, government officials handling public money, public finance researchers and all enlightened citizens would find it useful.

ABOUT THE AUTHOR

Subhash Chandra Pandey is an Indian Audit and Accounts Service officer (1983 batch) holding a Ph.D. in  Mathematics in the area of operations research. He been a member or adviser in several Committees set up by the Ministry of Finance, the Reserve Bank of India and Institute of Chartered Accountants of India. He worked in the Ministry of Finance for 10 years as Deputy Secretary/Director/OSD during 1994 to 2007 handling budget and expenditure management and taking initiative to work on the historic Fiscal Responsibility and Budget Management Act. He has 8 years experience of financial management in key line Ministries of Defense, Commerce & Industry, Heavy Industry & Public Enterprises and Textiles; their autonomous bodies and public sector undertakings. Within his parent Department, he has handled State government accounts & audit, defence audit and training of audit & accounts staff. He also served as Treasury Consultant to Government of Antigua and Barbuda advising the government on budget and accounts and designing computerised accounting system.
M.P. Gupta, an Indian Audit and Accounts Service Officer (1960 Batch) has academic specialisation in Advanced Accounting, work experience of the Indian Audit and Accounts Service for over three decades, understanding of Government accounting and finance systems having been Accountant General in Nagaland, Rajasthan and Bihar, and Additional Secretary, Ministry of Finance, and Financial Advisor, Health Ministry; hand-on experience of  commercial system as Financial Advisor, Food Corporation of India. He authored Accounting System Pradhan Mantri Gram Sadak Yojana- an inernet based modern accounting system, combining Government system with the modern accounting system.  

CONTENTS

 Foreword to the first edition (1990)................................ 9
 Preface to the Third Edition (2021).............................. 13
 Preface to the Second Edition (1993)............................. 15
 Preface to the First Edition (1990)................................ 17
1.   Basic Concepts of Accounting................................... 19
2.   Receipts, Payment and Accounting System.............. 45
3.   Government Accounts in India................................. 57
4.   Budgetary System for Government Expenditure..... 97
5.   Cash Management by Government........................ 127
6.   Public Debt and Deficits.......................................... 143
7.   Fiscal Transparency and Accounting Reforms....... 189
8.   Public Finance Reforms: Budget 2021-22 and Beyond...................................................................... 215
Annexures.................................................................. 235
References................................................................... 281
Bibliography............................................................... 287
Index.......................................................................... 289