The Role of Panchayati Raj Institutions' Accounting and Reporting in Building Public Confidence and Legitimacyan Empirical Study

Abstract

“Indian independence must begin at the rural place. Every village should be a republic or a Panchayat having full powersâ€Â  -Mahatma Gandhi
The strength and success of panchayat raj institutions mainly depend on the reliability and accuracy of its financial administration. Financial administration is the backbone of the panchayat institutions. It is a fact that success or otherwise depends mainly this variables, finance and financial administration with transparency. Hence, ever since the inception local government reform, whether it is fiscal administration, resource mobilization, revenue and expenditure planning, budgeting and auditing and accounting transparency residing a significant place.
Financial management is concerned with the proper management of the funds of the related institutions or organization. This present research is to explore the perception of panchyat officials against budget preparation and maintenance of accounts ie., books of account, registrars and records. The study also details about the efficiency in managing budgeting and auditing activities in Gram panchyats, Taluk panchayats and Zilla panchayat with respect to shivamogga district. The study concludes through offering appropriate strategy need to draw through policies for both governments as well as to panchayat’s officials to improve the performance of institutions to fulfill the need of rural mass.