Amendment status not verified — confirm the current text below against the official source.
Every Local Self-Gc vemres'-t shall be guided by the following financial management principles, rntsely.- (a) ensuring transparency m all stages o f policy making and implementation; (b) introducing performance linked budget policies; (c) providing for effective sad sustained fiscal monitoring systems; (d) introducing robust financial management principles; (e) maintaining Local Self-Government’s debt at prudent levels; (f) managing guarantees and other contingent liabilities prudently, with particular reference to the quality and level of such liabilities; (g) ensuring that policy decisions cf the Local Self-Government have due regard to their current financial position and the financial implications on future generations; 1994 THE ASSAM GAZETTE. EXTRAORDINARY. SEPTEMBER 6, 2011 Measures for fiscal transparency Measures to enforce Fiscal Discipline (h) adopting the accounting framework for Local Self-Governments prescribed by Comptroller and Auditor General of India; (i) ensuring that borrowings are used for productive purposes and accumulation of capital assets, and are not applied to finance current expenditure; (j) pursuing tax policies with due regard to economic efficiency and ' compliance costs; (k) pursuing fiscal policies with due regard to cost recovery and equity; (l) pursuing expenditure policies that would provide impetus for economic growth, poverty reduction and improvement in human welfare; (m) ensuring that physical assets of the Local Self-Government are properly maintained; • (n) disclosing sufficient information to allow the public to scrutinize the conduct of fiscal policy and the state of Local Self-Government finances; (o) ensuring that the Local Self-Government uses resources in ways that give best value for money, and also ensure that public assets are put to best possible use; (p) managing expenditure consistent with the level o f revenue generated; (q) ' formulating budget in a realistic and objective manner with due regard to the general economic outlook and revenue prospects, and minimize deviations during the course o f the year; (r) ensuring collection of dues and taxes in an expeditious manner; (s) ensuring discharge of current liabilities in a timely manner, (t) adopting appropriate techniques for measuring the cost of file services provided by the Local Self-Government