CAG to Prioritize Maturity and Uniform Reporting of Urban Local Body Accounts

Comptroller and Auditor General of India K. Sanjay Murthy emphasized prioritizing the assessment of maturity and quality of urban local bodies' financial accounts to improve asset management and operational efficiency. A pilot analysis of around 700 accounts revealed significant observations on account quality. Murthy highlighted the need for uniform state reporting of increased Finance Commission grants, including the Urban Challenge Fund, and proposed a consolidated disclosure framework to enhance transparency and fiscal accountability. The CAG plans to expand its audit capacity and support states in preparing better-quality accounts.