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Financial
Meghalaya

Report of 2015 - Compliance, Financial and Performance Audit on State Finances of Government of Meghalaya

Date on which Report Tabled:
Wed 25 Mar, 2015
Date of sending the report to Government
Government Type
State
Sector Taxes and Duties,Finance

Overview

This Report on the Finances of the Government of Meghalaya is being brought out with a view to assess objectively the financial performance of the State during the year 2013-14. The aim of this Report is to provide the State Government with timely inputs based on actual data so that there is a better insight into both well performing as well as ill performing schemes/programmes of the Government. An effort has been made to compare the achievements with the targets envisaged by the State Government in the budget estimates of 2013-14, Meghalaya Fiscal Responsibility and Budget Management (MFRBM) Act, 2006 (amended in October 2011) and projections made by the Thirteenth Finance Commission (XIIIFC).

Based on the audited accounts of the Government of Meghalaya for the year ending March 2014, this report provides an analytical review of the Annual Accounts of the State Government. The report is structured in three Chapters. Chapter I is based on the audit of Finance Accounts and makes an assessment of Meghalaya Government's fiscal position as on 31 March 2014. It provides an insight into trends in expenditure, borrowing pattern besides a brief account of central funds transferred directly to the State implementing agencies through off-budget route. Chapter II is based on audit of Appropriation Accounts and it gives the grant-by-grant description of appropriations and the manner in which the allocated resources were managed by the service delivery departments. Chapter III is an inventory of Meghalaya Government's compliance with various reporting requirements and financial rules.

The report also has an appendage of additional data collected from several sources in support of the findings. The fiscal position of the State viewed in terms of key fiscal parameters - revenue surplus, fiscal deficit, primary deficit - indicated significant improvement in the financial health of the State during 2013-14 relative to previous four years (2009-13). During 2013-14, the State continued to maintain revenue surplus. The revenue surplus of RS 536.81 crore during 2012-13 increased to RS 715.14 crore during the current year.

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