THE WHOLE SYSTEM BE CORPORATISED IN BUDGETING IN THE LINE OF GAAP-
Each Pachayat to state budget shall be uniformly reframed in the form of corporate financial balance sheet. Heads of the account shall be defined like
Establishment , capital expenses, transport division, agriculture, water. Each shall division shall submit seperate balance sheet and it shall flow as municipality balance sheet, Panchayat balance sheet up the stream. All shall be consolidated as state budget at the down the stream. PEOPLE CAN BE ALLOWED TO PURCHASE BALANCE SHEETS of their own interest to study. In two years, the whole state will be able to tell their income flow and expenditure bills. It is not easy for a bureacrate to manipulate as every sub-heads will have their own journal entry. NOW CAN WE HAVE MORE TO JOIN THE IDEA STREAM?
Krishnamurthy
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