Finance income and expenditure management of local area governement bodies: A case study on Panchkula district Singh Hardeep*, Dr. Purohit Ashok** *Doctoral Research Scholar, (PhD Student), Department of Management, Singhania University, Pacheri Bari, Jhunjhunu, Rajasthan, India **Research Director, Ph. D Research Supervisor (PhD Guide), Department of Management, JJT University, Jhunjhunu, Rajasthan, India Online published on 11 July, 2017. Abstract Local finance also plays very important role in the economic development and well-being of the people of the local area concerned. Therefore, after independence one of the most important objectives of the Government of India was to inculcate a sprit of freedom and self-reliance in each and every walk of life of the people. Among the various measures taken in pursuance of this goal, India adopted the system of self government at the local level in rural as well as urban areas keeping in view the local needs and importance. The Panchayati Raj institutions cover the rural area and urban local authorities namely, Municipal Corporation, municipal councils, municipal committee etc. have been created to cater to the needs and to address the problems of the urban area. The urban local institutes are governed by the separate enactment in each state. Main emphasis in this paper has been made on analyzing the concept; to examine the financial picture of the municipal council, Panchkula.; to analyze the income and the expenditure profile of the municipal finances in order to bring out the weaknesses, which might have impaired the efficiency and functioning of municipal council; to study whether the received revenues are fully utilized or not; and to study the scope for mobilization of additional resources. In this paper, to conduct this study, Research Methodology used, is based on primary as well as secondary data. This study is based on data obtained from various records, reports and accounts of the municipal council, Panchkula. An extensive attempt has been made to critically examine this unpublished data. Besides the employees and members of the council were interviewed who have some knowledge of financial position. Top |