Strategy for transparency in fiscal works

(i) The State Government shall take appropriate measures to ensure maximum transparency in its fiscal operations in the public interest and to minimize confidentiality to the extent possible in the preparation of the Annual Financial Statement, but the State Government shall have the power to maintain the confidentiality of any such fact as would adversely affect the fiscal management of the State if made public. (ii) At the time of presentation of the budget, the State Government shall publish a statement regarding significant changes in accounting standards, policies, and practices, and policies and practices that affect or are likely to affect the calculation of fiscal indicators. (iii) A consolidated position in relation to all demands shall be shown in "Budget at a Glance". (iv) The calculation of the estimated annual pension liability for the next 10 years shall be done on an actual basis. (v) New policies included in the annual budget should be clearly mentioned. (vi) Budget information shall be presented in such a form as to be helpful in promoting policy analysis and discharge of liability. (vii) Detailed information regarding revenue arrears (both tax and non-tax revenue) shall be presented separately as an annexure to the Receipt Budget. (viii) Allocation of funds shall be done on the basis of the priority so that the completion of ongoing schemes can be ensured as per the scheduled time. The State Government shall present a list of projects related to zero-based investment review, their scheduled date of completion, and reasons for deviation in previous years, if any. (ix) The statement, which includes the list of guarantees given by the State Government institution-wise, inability of the concerned institution to pay the debt, and the liability of the State Government to pay the debt under the given guarantee, shall be presented by the Government in the State Legislative Assembly. This statement will also show the escrow account etc. opened by public undertakings/co-operative societies/urban local bodies. (x) A special statement regarding the number of employees of the government, public sector, and aided institutions and their salaries etc. shall be presented with the budget. (xi) The budget document shall contain details regarding tax exemptions and remissions in a financial year. (xii) The State Government shall publish advance information regarding debt and financial assets. The information related to debt will include maturity and interest rate. (xiii) A report regarding the implementation of the budget and the achievement of financial targets/indicators shall be presented in the Legislature.