Financial Management Practices of Urban Local Bodies in West Bengal - A Case Study of Barasat Municipality

Abstract

The data at Barasat Municipality indicate that there is a huge scope of treasury management as surplus money remains unutilized for a long time in the normal&special current and normal savings account/s. Municipal accounting reforms in India are of three decades old. To start with during 1980s and 1990s we saw only two experiments at Mumbai Municipal Corporation and Chennai Municipal Corporation. In both the occasions, the double entry accrual-based accounting system was introduced as condition imposed by the World Bank against their loan sanctioned to these Municipal Corporations for their development programmes.