The Ministry of Housing and Urban Affairs, Government of India recently launched a cityfinance.in – a national portal of information on municipal finances in the country. India is a country with 4,500+ urban local bodies and there was a dire need for a centralised, government backed repository of this type. At the time of launch, the portal houses more than 2,500 municipal financial statements, 650 credit rating reports, and details …Read More
Following a slew of fiscal and monetary measures by the central government, each Indian state is doing its bit to fight the fiscal challenge posed by the pandemic. Measures range from straight forward pay cuts to the not so common sale of government properties. Read more about the measures taken in Ashok’s article on the IMF PFM Blog page at https://blog-pfm.imf.org/pfmblog/2020/05/-pfm-actions-by-indian-states-to-combat-covid-19-.html
Medium term fiscal planning is known to be an effective tool to foster better budget management and fiscal discipline. In an article published in ‘Aarthika Charche’ (a Journal of Economics & Governance published by the Fiscal Policy Institute, Bengaluru), Ashok Rao shares his experience of preparing MTFP (Medium-Term Fiscal Plan) for Shivamogga city Corporation – a medium sized Municipal Corporation in Karnataka, India. MaGC worked alongside Janaagraha in preparing the …Read More
ICAI’s Committee on Public & Government Financial Management (CP&GFM) conducted Train the Trainer Programmes across India on “Government & Public Financial Management Reforms: Local Self-Government Perspective”. This initiative aimed to upskill the CA community on the ULB accounting reforms in India. MaGC has been an active contributor to CP&GFM. Dr R S Murali and Babu Rajendra Prasad handled the sessions on 24th December, 2019 at ICAI Bhawan in Chennai. CA Ashok Rao conducted …Read More
MaGC conducted a two-day training on accrual accounting to municipal accountants of Goa state on 26th and 27th September 2019. The training covered the basics of double entry accrual accounting, municipal accounting concepts, and basics of municipal financial management. Practical exercises and case studies were used extensively. Working on the exercises gave the participants hands-on experience in applying concepts into practice. The training was an initiative of Sulochana Thapar Foundation.
“Commitment Control system helps monitor and regulate expenditure arrears by tracking spending well before payment obligations materialize. It also helps regulate the availability of cash amongst spending units.” To know more, read Ashok’s write-up on ‘Commitment Control: A Step Towards (or Beyond) Accrual Accounting’ published in IMF’s Public Financial Management Blog here: https://blog-pfm.imf.org/pfmblog/2019/01/accrual-accounting.html?
The MaGC Board now has a woman representative with the induction of Ms. Praveena K. R. Praveena has been with MaGC since 2005. She has worked with clients in India, Bhutan, Bangladesh, UK, Middle-East, and Singapore. Her specialisation is in corporate finance, audit and internal control frameworks, business process reengineering, and information security. Praveena is a Chartered Accountant and a Certified Information Systems Auditor. She has additional certifications of ISMS …Read More
A joint paper presented by Praveena K. R. and Dr. Murali R. S. from MaGC wins the best paper award at the 23rd International Conference on ‘Multidisciplinary Research and Practice in the era of Digital Innovation and Academic Intelligence: A Futuristic Approach’ organized by The Research Development Association and Research Development Research Foundation in collaboration with Rajasthan Chamber of Commerce and Industry and Jaipur Management Association. The paper, titled ‘M-RiCM …Read More
The Model Municipal Finance Code is an unique attempt to provide a set of principles for municipalities in India to manage their finances in a fiscally responsible manner. The Code was an initiative by Janaagraha and was developed by MaGC. Click here to read a blog on the development of the Code by Ashok. Click here to read the complete Success Story.
MaGC organised a week-long exposure visit for a high-level delegation from Sri Lanka. The visit was aimed at exposing the delegation to different institutional mechanisms in India for local level infrastructure development and financing. MaGC’s involvement was part of an ongoing consultancy assignment for The Asia Foundation for ‘Restructuring of the Local Loans Development Fund of Sri Lanka’. The delegation was led by the Secretary-Ministry of Provincial Councils and Local …Read More