ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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State Finance-False Claims

the finances of state governments for the year 1975-76 (Reserve Bank Bulletin, September 1975) contains, as usual, detailed data cm the states' receipts and expenditures. Compilation and aggregation of the budgetary data for the states should have been considerably facilitated by the revised uniform classification of budgets and accounts adopted from the financial year 1974-75. The primary objective of the revised classification was "to facilitate an economic and functional analysis of the budgets, to monitor the; programmes and activities and to bring out a closer co-ordination between the heads of development and heads of account" (RBI Bulletin, September 1974, p 1553). While the latest study does show that the state' governments' budgets and accounts are being classified by and large on a functional basis, there is still no sign of an economic classification of state government budgets on the lines of the classification of the Central budget. in the absence of such an economic classification, it is virtually impossible to arrive at any worthwhile estimates of saving of the state governments for the national saving estimates.

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