Learning Objective:Learning Objective:

The trainees will be able to know The trainees will be able to know about the transaction of Foreign about the transaction of Foreign Currency and Loss or Gain by Currency and Loss or Gain by Exchange Rate Variation, Government Exchange Rate Variation, Government investment in Equity, and about the investment in Equity, and about the Public Debt and other Liabilities of Public Debt and other Liabilities of GovernmentsGovernments

Overview and Overview and Structure:Structure:

► All transactions of the Union and State All transactions of the Union and State Governments taking place in other countries Governments taking place in other countries and passed periodically by the Indian and passed periodically by the Indian Embassies/ Missions to India and brought to Embassies/ Missions to India and brought to account finally in the Indian books after they account finally in the Indian books after they have been converted into rupees. All have been converted into rupees. All transactions taking place with foreign transactions taking place with foreign Governments or foreign entities or Governments or foreign entities or international agencies in foreign currency international agencies in foreign currency are also to be recorded in the reporting are also to be recorded in the reporting currency applying exchange rate on the currency applying exchange rate on the date of transaction. The disclosure date of transaction. The disclosure statement showing of Foreign Currency statement showing of Foreign Currency transactionstransactions

► the investments made by the Union and the the investments made by the Union and the State Governments in Statutory Corporations, State Governments in Statutory Corporations, Government Companies, other Joint Stock Government Companies, other Joint Stock Companies, Co-operative Banks and Societies, Companies, Co-operative Banks and Societies, and International Bodies by way of subscription and International Bodies by way of subscription to equity instruments of these entitiesto equity instruments of these entities

► The objective of the IGAS-10 is to lay down the The objective of the IGAS-10 is to lay down the principles for identification, measurement and principles for identification, measurement and disclosure of public debt and other obligation of disclosure of public debt and other obligation of Union and the State Governments including Union and the State Governments including Union Territories with legislatures in their Union Territories with legislatures in their respective financial statements. It ensures respective financial statements. It ensures consistency with international practices for consistency with international practices for accounting of public debt in order to ensure accounting of public debt in order to ensure transparency and disclosure in the financial transparency and disclosure in the financial statements of Government for the benefit of statements of Government for the benefit of various stake holdersvarious stake holders

Indian Government Accounting Standard-Indian Government Accounting Standard-7 on Foreign Currency transactions and 7 on Foreign Currency transactions and Loss or Gain by Exchange Rate VariationLoss or Gain by Exchange Rate Variation

► IntroductionIntroduction Government Accounting Rules, 1990 require that Government Accounting Rules, 1990 require that

the accounts of the Government shall be maintained the accounts of the Government shall be maintained in Indian currency i.e., Indian rupees. Indian rupee is in Indian currency i.e., Indian rupees. Indian rupee is the reporting currency for the financial statements the reporting currency for the financial statements of the Government. All transactions of the Union and of the Government. All transactions of the Union and State Governments taking place in other countries State Governments taking place in other countries are passed periodically by the Indian Embassies/ are passed periodically by the Indian Embassies/ Missions to India and brought to account finally in Missions to India and brought to account finally in the Indian books after they have been converted the Indian books after they have been converted into rupees. All transactions taking place with into rupees. All transactions taking place with foreign Governments or foreign entities or foreign Governments or foreign entities or international agencies in foreign currency are also to international agencies in foreign currency are also to be recorded in the reporting currency applying be recorded in the reporting currency applying exchange rate on the date of transaction.exchange rate on the date of transaction.

► Under Article 292 of the Constitution of India, the Under Article 292 of the Constitution of India, the executive power of the Union extends to borrowing executive power of the Union extends to borrowing upon the security of the Consolidated Fund of India upon the security of the Consolidated Fund of India within such limits, if any, as may from time to time within such limits, if any, as may from time to time be fixed by the Parliament by law and to the giving be fixed by the Parliament by law and to the giving of guarantees within such limits, if any, as may be of guarantees within such limits, if any, as may be so fixed. The Union Government may have bilateral so fixed. The Union Government may have bilateral and multi-lateral transactions involving foreign and multi-lateral transactions involving foreign currency. This may involve borrowing or currency. This may involve borrowing or lending involving repayment of principal and lending involving repayment of principal and payment of interest denominated in foreign payment of interest denominated in foreign currency and loss or gain by exchange rate currency and loss or gain by exchange rate variation.variation.

► Foreign currency transactions for acquisition of Foreign currency transactions for acquisition of Special Drawing Rights (SDRs) at the IMF are Special Drawing Rights (SDRs) at the IMF are accounted for under Special Deposit and Accounts-accounted for under Special Deposit and Accounts-SDR at the IMF-Exchange Rate.SDR at the IMF-Exchange Rate.

ObjectiveObjective

► Government may have foreign currency transactions Government may have foreign currency transactions and loss or gain arising due to exchange rate and loss or gain arising due to exchange rate variations. The objective of this standard is to provide variations. The objective of this standard is to provide accounting and disclosure requirements of foreign accounting and disclosure requirements of foreign currency transactions and financial effects of exchange currency transactions and financial effects of exchange rate variations in terms of loss or gain in the financial rate variations in terms of loss or gain in the financial statements. It also deals with the requirements of statements. It also deals with the requirements of disclosure of foreign currency external debts and the disclosure of foreign currency external debts and the rate applied for disclosure.rate applied for disclosure.

► The principal issues in accounting and reporting for The principal issues in accounting and reporting for foreign currency transactions are to decide which foreign currency transactions are to decide which exchange rate to apply and how to recognize in the exchange rate to apply and how to recognize in the financial statements the financial effects of exchange financial statements the financial effects of exchange rate variations in terms of loss or gain.rate variations in terms of loss or gain.

ScopeScope► The Accounting Authority which prepares and presents the The Accounting Authority which prepares and presents the

financial statements of the Government under the cash basis of financial statements of the Government under the cash basis of accounting, as defined in the Government Accounting Rule 21 of accounting, as defined in the Government Accounting Rule 21 of GAR 1990 and Government Financial Rule 68 of GFR 2005 should GAR 1990 and Government Financial Rule 68 of GFR 2005 should apply this Standard:apply this Standard:

► (a) in accounting and disclosure for transactions in foreign (a) in accounting and disclosure for transactions in foreign currencies;currencies;b)b) in accounting and disclosure for financial effects of in accounting and disclosure for financial effects of exchange variations in terms of loss or gain by exchange rate exchange variations in terms of loss or gain by exchange rate variation, andvariation, and

► (c)(c) in disclosure of foreign currency external debts and the in disclosure of foreign currency external debts and the rate(s) applied for disclosure.rate(s) applied for disclosure.

► Financial statements should not be described as complying with Financial statements should not be described as complying with this Standard unless they comply with all its requirements.this Standard unless they comply with all its requirements.

► This Standard shall apply to foreign currency transactions of the Union This Standard shall apply to foreign currency transactions of the Union Government as well as that of the State Governments.Government as well as that of the State Governments.

► This Standard deals with presentation of expenditure and revenue in terms This Standard deals with presentation of expenditure and revenue in terms of loss or gain by exchange rate variations arising from foreign currency of loss or gain by exchange rate variations arising from foreign currency transactions. It also deals with disclosure of foreign currency external debt.transactions. It also deals with disclosure of foreign currency external debt.

► This Standard does not deal with disclosure requirements of external This Standard does not deal with disclosure requirements of external guarantees. The requirements of disclosure of details of subsisting external guarantees. The requirements of disclosure of details of subsisting external guarantees in terms of Indian rupees on the date of financial statements guarantees in terms of Indian rupees on the date of financial statements have been dealt with in IGAS1 “Guarantees given by Governments: have been dealt with in IGAS1 “Guarantees given by Governments: Disclosure Requirements’.Disclosure Requirements’.

► The Reserve Bank of India is the custodian of foreign currency and The Reserve Bank of India is the custodian of foreign currency and foreign exchange reserves and this Standard does not deal with foreign foreign exchange reserves and this Standard does not deal with foreign currency reserves.currency reserves.

Foreign Currency TransactionsForeign Currency Transactions

► A Foreign currency transaction of Government is a transaction which A Foreign currency transaction of Government is a transaction which is denominated in or requires settlement in a foreign currency. This is denominated in or requires settlement in a foreign currency. This may include:may include:

► (a) transactions arising due to operations of the missions and (a) transactions arising due to operations of the missions and embassies abroad and receipts and payments made by them embassies abroad and receipts and payments made by them including those on behalf of other Ministries and Departments including those on behalf of other Ministries and Departments relating to defence, commerce, education as well as public sector relating to defence, commerce, education as well as public sector undertakings and State Governments;undertakings and State Governments;

► (b) bilateral and multi-lateral foreign currency transactions (b) bilateral and multi-lateral foreign currency transactions involving borrowing or lending including debt servicing;involving borrowing or lending including debt servicing;

► (c)(c) purchasing/ selling goods or services where purchase/ purchasing/ selling goods or services where purchase/ sale price is denominated in foreign currency; sale price is denominated in foreign currency;

► (d) transactions arising from the schemes involving foreign currency (d) transactions arising from the schemes involving foreign currency such as ‘The NRI Bonds’, the flow of which goes to Government such as ‘The NRI Bonds’, the flow of which goes to Government account;account;

► (e) transactions for acquisition of Special Drawing Rights at the (e) transactions for acquisition of Special Drawing Rights at the International Monetary Fund and quota contributions to IMF and the International Monetary Fund and quota contributions to IMF and the transactions under Financial Transaction Plan;transactions under Financial Transaction Plan;

► (f)(f) rupees securities issued to the international financial rupees securities issued to the international financial institutions which are accounted for under the head internal debt of institutions which are accounted for under the head internal debt of the Central Government but requiring repayment on encashment of the Central Government but requiring repayment on encashment of rupee securities in convertible currencies.rupee securities in convertible currencies.

Treatment of Loss or Gain by Exchange Treatment of Loss or Gain by Exchange Rate VariationRate Variation

► Paragraphs 20 to 24 set out the accounting treatment Paragraphs 20 to 24 set out the accounting treatment required by this Standard with respect to loss or gain by required by this Standard with respect to loss or gain by exchange rate variations and exchange difference on different exchange rate variations and exchange difference on different types of foreign currency transactions.types of foreign currency transactions.

► 20. All losses or gains by exchange rate variation in 20. All losses or gains by exchange rate variation in respect of Government transactions in foreign respect of Government transactions in foreign currencies (except those dealt with paragraphs 23 & currencies (except those dealt with paragraphs 23 & 24) shall be recognised as revenue loss or gain.24) shall be recognised as revenue loss or gain.

► 21. 21. Government may have losses or gains by exchange Government may have losses or gains by exchange rate variations on its operating activities like operation of its rate variations on its operating activities like operation of its missions abroad as mentioned in paragraph 2 above or due to missions abroad as mentioned in paragraph 2 above or due to contractual commitments to bear the financial effect of contractual commitments to bear the financial effect of exchange rate variations as part of its fiscal and economic exchange rate variations as part of its fiscal and economic policy as mentioned in paragraph 4 & 5 above.policy as mentioned in paragraph 4 & 5 above.

► 22 Loss or gain arising out of transactions for 22 Loss or gain arising out of transactions for acquisition of Special Drawing Rights at the acquisition of Special Drawing Rights at the International Monetary Fund shall be reported in International Monetary Fund shall be reported in the financial statements.the financial statements.

► Exchange difference may arise out of Exchange difference may arise out of Government’s financing activities like borrowing of Government’s financing activities like borrowing of loans denominated in foreign currencies and issuing loans denominated in foreign currencies and issuing of rupees securities as mentioned at paragraphs 3 to of rupees securities as mentioned at paragraphs 3 to 6 above. External borrowings of the Government are 6 above. External borrowings of the Government are recorded at the historical rate of exchange i.e., rate recorded at the historical rate of exchange i.e., rate of exchange prevailing at the date of transaction. As of exchange prevailing at the date of transaction. As most of the loans have long repayment period(s), most of the loans have long repayment period(s), their repayment extends over several years. their repayment extends over several years. Meanwhile, exchange rate(s) may undergo Meanwhile, exchange rate(s) may undergo significant changes. If the exchange rate is higher at significant changes. If the exchange rate is higher at the time of repayment, repayment of loans in Indian the time of repayment, repayment of loans in Indian rupees exceed the rupee amount of loan drawn.rupees exceed the rupee amount of loan drawn.

► 24.24. In case repayment of loans, at the end of In case repayment of loans, at the end of loan period the balance, if any, remaining in loan period the balance, if any, remaining in external debt head may be cleared adjusting external debt head may be cleared adjusting the same under appropriate revenue or the same under appropriate revenue or expense head for exchange rate fluctuations or expense head for exchange rate fluctuations or to miscellaneous Government Account head.to miscellaneous Government Account head.

DisclosureDisclosure► The financial statements shall disclose rates of exchange The financial statements shall disclose rates of exchange

adopted internally by the Government for different types of adopted internally by the Government for different types of foreign currency transactions including forward contract foreign currency transactions including forward contract rate, if any, along with their basis as part of Statement of rate, if any, along with their basis as part of Statement of Accounting Policies.Accounting Policies.

► The financial statements shall disclose the following details The financial statements shall disclose the following details of foreign loans in the format given in paragraph 30:of foreign loans in the format given in paragraph 30:

► (a) loans outstanding on historical cost basis at the (a) loans outstanding on historical cost basis at the beginning and end of the year;beginning and end of the year;

► (b) loans outstanding on closing rate basis at the beginning (b) loans outstanding on closing rate basis at the beginning and end of the year;and end of the year;

► (c) loans outstanding in foreign currency units at the (c) loans outstanding in foreign currency units at the beginning and end of the year;beginning and end of the year;

► (d) additions during the year in foreign currency terms and (d) additions during the year in foreign currency terms and in Indian Rupee along with the rate of exchange adopted;in Indian Rupee along with the rate of exchange adopted;

► (e) discharge during the year showing separately the (e) discharge during the year showing separately the amounts in foreign currency units, on historical basis and amounts in foreign currency units, on historical basis and current rate of exchange basis;current rate of exchange basis;

► (f) loss or gain on repayment of loans due to variation of (f) loss or gain on repayment of loans due to variation of exchange rate;exchange rate;

► (g) amount outstanding at the end of the year in foreign (g) amount outstanding at the end of the year in foreign currency units, on historical basis and on closing rate basis;currency units, on historical basis and on closing rate basis;

► (h) interest paid on external debt; and(h) interest paid on external debt; and► (i) closing rate of exchange applied.(i) closing rate of exchange applied.

► Financial statements shall disclose in Financial statements shall disclose in the notes the following:the notes the following:

► (a) category-wise gross figure of loss (a) category-wise gross figure of loss and gain by exchange rate variation for and gain by exchange rate variation for the financial year;the financial year;

► (b) loss and gain by exchange rate (b) loss and gain by exchange rate variation separately for Capital Head variation separately for Capital Head transactions and Revenue Head transactions and Revenue Head transactions;transactions;

► (c) amount of loan and exchange (c) amount of loan and exchange difference in respect of fully repaid difference in respect of fully repaid loans;loans;

► andand► (d) amount of loss or gain, if any, on (d) amount of loss or gain, if any, on

cross-currency swap agreements.cross-currency swap agreements.

►Effective DateEffective Date

This Indian Government Accounting This Indian Government Accounting Standard shall be effective for Standard shall be effective for financial statements for the periods financial statements for the periods commencing from the 1st April commencing from the 1st April subsequent to the date of subsequent to the date of notification of the standard by notification of the standard by Government.Government.

Indian Government Accounting Standard-Indian Government Accounting Standard-99

GOVERNMENT INVESTMENTS IN EQUITYGOVERNMENT INVESTMENTS IN EQUITY ► Introduction Introduction ► 1.1 Investments are made by the Union and the 1.1 Investments are made by the Union and the

State Governments in Statutory Corporations, State Governments in Statutory Corporations, Government Companies, other Joint Stock Government Companies, other Joint Stock Companies, Co-operative Banks and Societies, and Companies, Co-operative Banks and Societies, and International Bodies by way of subscription to International Bodies by way of subscription to equity instruments of these entities. equity instruments of these entities.

► 1.2 Investments by the governments constitute a 1.2 Investments by the governments constitute a portion of capital outlay of the Governments and portion of capital outlay of the Governments and dividends received are part of non tax revenue. dividends received are part of non tax revenue.

► 1.3 Government investments are primarily in the 1.3 Government investments are primarily in the Public Sector wherein the focus is not only on Public Sector wherein the focus is not only on generating adequate return on investments but generating adequate return on investments but also to ensure rapid economic growth, balanced also to ensure rapid economic growth, balanced regional development, employment generation, and regional development, employment generation, and meeting strategic and infrastructural requirementsmeeting strategic and infrastructural requirements

ObjectiveObjective

► The objective of the Standard is to lay down The objective of the Standard is to lay down the norms for Recognition, Measurement the norms for Recognition, Measurement and Reporting in respect of Investments and Reporting in respect of Investments made by the Union Government, the State made by the Union Government, the State Governments and Governments of Union Governments and Governments of Union Territories with Legislatures in their Territories with Legislatures in their respective Financial Statements to ensure respective Financial Statements to ensure complete, accurate, realistic and uniform complete, accurate, realistic and uniform accounting practices, and to ensure accounting practices, and to ensure adequate disclosure on investments made adequate disclosure on investments made by the Governments consistent with best by the Governments consistent with best international practices. international practices.

ScopeScope ► This Standard applies to entities which keep a This Standard applies to entities which keep a

record of investments made by the record of investments made by the Government for incorporation and Government for incorporation and presentation in the Annual Financial presentation in the Annual Financial Statements of the Government. This standard Statements of the Government. This standard will apply only to government accounts being will apply only to government accounts being maintained on a cash basis. This standard maintained on a cash basis. This standard applies to only instruments that are in the applies to only instruments that are in the nature of equity of the investee entities and nature of equity of the investee entities and not to debt instruments like debentures, not to debt instruments like debentures, bonds, preference shares etc. Financial bonds, preference shares etc. Financial Statements will not be considered as giving Statements will not be considered as giving fair and complete picture of Investments fair and complete picture of Investments unless they comply with these standardsunless they comply with these standards

DefinitionsDefinitions

► 4.1 The following terms used in the Standard have meanings as 4.1 The following terms used in the Standard have meanings as specified here under, unless the context otherwise requires:specified here under, unless the context otherwise requires:

► Accounting AuthorityAccounting Authority is the authority which prepares the is the authority which prepares the Financial Statements of the Governments. Financial Statements of the Governments.

► Accounting PeriodAccounting Period means the period covered by the means the period covered by the Financial Statements. Financial Statements.

► Bonus sharesBonus shares are shares issued free of cost to the are shares issued free of cost to the shareholders of a company, by capitalizing a part of the shareholders of a company, by capitalizing a part of the company’s reserves. company’s reserves.

► Cash BasisCash Basis of accounting is that wherein accounting of accounting is that wherein accounting transactions of an entity represent the actual cash receipts transactions of an entity represent the actual cash receipts and disbursements during a financial year as distinguished and disbursements during a financial year as distinguished from the amount due to or by the entity during the same from the amount due to or by the entity during the same period. period.

► Consolidated Fund of IndiaConsolidated Fund of India is the fund referred to in clause is the fund referred to in clause (1) Article 266 of the Constitution of India. (1) Article 266 of the Constitution of India.

► Consolidated Fund of the StateConsolidated Fund of the State is the fund referred to in is the fund referred to in clause (1) Article 266 of the Constitution of India. clause (1) Article 266 of the Constitution of India.

► DebenturesDebentures are an instrument of debt executed by the are an instrument of debt executed by the company acknowledging its obligation to repay the sum at company acknowledging its obligation to repay the sum at a specified rate and also carrying an interest.a specified rate and also carrying an interest.

► EquityEquity is the residual interest in the assets of the enterprise is the residual interest in the assets of the enterprise after deducting all its liabilities. after deducting all its liabilities.

► Equity InstrumentEquity Instrument is any contract that evidences a residual is any contract that evidences a residual interest in the assets of an enterprise after deducting all of its interest in the assets of an enterprise after deducting all of its liabilities. liabilities.

► Equity sharesEquity shares are all shares which are not preference shares. are all shares which are not preference shares. ► Financial statementsFinancial statements mean the Annual Finance Accounts of the mean the Annual Finance Accounts of the

respective Governments. respective Governments. ► Government Government means the Union Government or any State means the Union Government or any State

Government or Government of any Union Territory with Government or Government of any Union Territory with Legislature. Legislature.

► Historical CostHistorical Cost is the transaction value including incidental is the transaction value including incidental costs at the time of transaction costs at the time of transaction

► Investee EntityInvestee Entity is an entity in whom an investment is is an entity in whom an investment is sanctioned by the Government. sanctioned by the Government.

► Investee GroupInvestee Group consists of a group of investee entities of consists of a group of investee entities of similar nature and characteristics. similar nature and characteristics.

► InvestmentsInvestments are financial assets created by the Governments are financial assets created by the Governments by providing money, goods or services directly or indirectly by providing money, goods or services directly or indirectly to the investee entities. These financial assets are in the nature to the investee entities. These financial assets are in the nature of equity of the investee entities. of equity of the investee entities.

► Major HeadsMajor Heads of account represent the functions of Government of account represent the functions of Government as per the ‘List of Major and Minor Heads of Account of Union as per the ‘List of Major and Minor Heads of Account of Union and States’. and States’.

► Minor HeadsMinor Heads of account represent various programmes of account represent various programmes undertaken by departments of Government to achieve the undertaken by departments of Government to achieve the objectives of the function represented by the major head as per objectives of the function represented by the major head as per the ‘List of Major and Minor Heads of Account of Union and the ‘List of Major and Minor Heads of Account of Union and States’. States’.

► Net worthNet worth is the total assets minus total outside liabilities is the total assets minus total outside liabilities ► ParliamentParliament means the Parliament of India. means the Parliament of India.

► Planning CommissionPlanning Commission means the Central means the Central Planning Commission set up by the Planning Commission set up by the Government through a resolution in 1950. Government through a resolution in 1950.

► Preference sharesPreference shares are shares which have the are shares which have the following two characteristics; (a) that as following two characteristics; (a) that as respects dividends they carry or will carry a respects dividends they carry or will carry a preferential right to be paid a fixed amount preferential right to be paid a fixed amount or an amount calculated at a fixed rate. (b) or an amount calculated at a fixed rate. (b) that as respect capital, it carries or will carry, that as respect capital, it carries or will carry, on winding up or repayments of capital, a on winding up or repayments of capital, a preferential right to be repaid the amount of preferential right to be repaid the amount of the capital paid-up or deemed to have been the capital paid-up or deemed to have been paid up. paid up.

► Sector Sector consists of a grouping of specific consists of a grouping of specific functions or services as per the ‘List of Major functions or services as per the ‘List of Major and Minor Heads of Account of Union and and Minor Heads of Account of Union and States’. States’.

► Sub-Major HeadsSub-Major Heads of account represent the of account represent the sub-functions of Government and are under sub-functions of Government and are under the Major Heads and are as per the ‘List of the Major Heads and are as per the ‘List of Major and Minor Heads of Account of Union Major and Minor Heads of Account of Union and States’.and States’.

RecognitionRecognition

► 5.1 An investment shall be recognized by 5.1 An investment shall be recognized by the disbursing entity as an asset from the the disbursing entity as an asset from the date the money is actually disbursed and date the money is actually disbursed and not from the date of sanction. not from the date of sanction.

► 5.2 Loans converted into equity shall be 5.2 Loans converted into equity shall be treated as investments from the date of treated as investments from the date of conversion in as much that they shall lead conversion in as much that they shall lead to an increase in the investment amount to an increase in the investment amount from the date of conversion. from the date of conversion.

Measurement and Measurement and ValuationValuation

► 6.1 Historical Cost measurement shall be the basis 6.1 Historical Cost measurement shall be the basis for accounting and reporting on investments made for accounting and reporting on investments made by Governments by Governments

► 6.2 The total amount of investments on the last 6.2 The total amount of investments on the last date of a accounting period shall be the investments date of a accounting period shall be the investments at the beginning of the period with additions and at the beginning of the period with additions and disinvestment/ sale of investments during the period. disinvestment/ sale of investments during the period.

► 6.3 The method of initial measurement and valuation 6.3 The method of initial measurement and valuation of investments in the Financial Statements of the of investments in the Financial Statements of the Governments is to measure at historical cost of the Governments is to measure at historical cost of the investments. investments.

► 6.4 Subsequent to initial valuation too, Investments 6.4 Subsequent to initial valuation too, Investments will be reflected in the Financial Statements at will be reflected in the Financial Statements at Historical costHistorical cost

DisclosureDisclosure 7.1 The Financial Statements of the Union and State 7.1 The Financial Statements of the Union and State

Governments shall disclose the Amount of Investments at Governments shall disclose the Amount of Investments at the beginning and end of the accounting period showing the beginning and end of the accounting period showing additional investments and disinvestments. The financial additional investments and disinvestments. The financial statements shall also disclose the dividend received. An statements shall also disclose the dividend received. An additional column in the relevant Financial Statements shall additional column in the relevant Financial Statements shall also reflect the amount of dividend declared. This amount also reflect the amount of dividend declared. This amount will not be accounted for but will only be in nature of an will not be accounted for but will only be in nature of an additional disclosure. additional disclosure.

► 7.2 The Financial Statements of the Union and State 7.2 The Financial Statements of the Union and State Government shall disclose the following details under Government shall disclose the following details under ‘Investments made by the Union/State Government’ in the ‘Investments made by the Union/State Government’ in the Annual Finance Accounts of the Union Government: Annual Finance Accounts of the Union Government:

► (a) Summary of Investments: Investee group-wise (a) Summary of Investments: Investee group-wise ► (b) Summary of Investments: Sector-wise. (b) Summary of Investments: Sector-wise. ► 7.3 The Financial Statements of the Union/State 7.3 The Financial Statements of the Union/State

Government shall disclose the following details under Government shall disclose the following details under ‘Detailed Statement of Investments made by the ‘Detailed Statement of Investments made by the Union/State Government’ in the Annual Finance Accounts Union/State Government’ in the Annual Finance Accounts of the Union Government: of the Union Government:

► (a) Detailed Statement of Investments showing the (a) Detailed Statement of Investments showing the Major Head and Minor Head-wise Details. Major Head and Minor Head-wise Details.

► (b) Detailed Statement of Investments made: Entity (b) Detailed Statement of Investments made: Entity wise wise

► 7.4 The Financial Statements of the Union and 7.4 The Financial Statements of the Union and government shall disclose the following details under government shall disclose the following details under ‘Additional Disclosures’ in the Annual Finance ‘Additional Disclosures’ in the Annual Finance Accounts of the Union/State Government: Accounts of the Union/State Government:

► (a) Fresh Investments and deduction/ disinvestment (a) Fresh Investments and deduction/ disinvestment made during the year. made during the year.

► 7.5 The Financial Statements shall reflect the total 7.5 The Financial Statements shall reflect the total amount of investments at the beginning and end of amount of investments at the beginning and end of the accounting period along with the additions made the accounting period along with the additions made during the year by way of fresh investments to the during the year by way of fresh investments to the opening balance and deductions there from by way of opening balance and deductions there from by way of disinvestments to arrive at the closing balance. Also disinvestments to arrive at the closing balance. Also the amount of dividend received will be reflected as the amount of dividend received will be reflected as revenue of the period. An additional column in the revenue of the period. An additional column in the relevant Financial Statements shall also reflect the relevant Financial Statements shall also reflect the amount of dividend declared, though not necessarily amount of dividend declared, though not necessarily received. This amount will only be by nature of an received. This amount will only be by nature of an additional disclosure and not accounted for. additional disclosure and not accounted for.

► 7.6 Financial Statements of both the Union and the State 7.6 Financial Statements of both the Union and the State Governments shall disclose details of Investments made in various Governments shall disclose details of Investments made in various investees in their respective Annual Finance Accounts in three parts. investees in their respective Annual Finance Accounts in three parts. For the Union Government these would be ‘Investments made by For the Union Government these would be ‘Investments made by the Union Government’, ‘Detailed Statement of Investments made the Union Government’, ‘Detailed Statement of Investments made by the Union Government’ and ‘Additional Disclosures’ in the Annual by the Union Government’ and ‘Additional Disclosures’ in the Annual Financial Accounts of the Union government. Financial Accounts of the Union government.

► 7.7 The State Government will have a similar three tier presentation 7.7 The State Government will have a similar three tier presentation in Annual Finance Accounts of the State ‘Investments made by the in Annual Finance Accounts of the State ‘Investments made by the State Government’, ‘Detailed Statement of Investments made by the State Government’, ‘Detailed Statement of Investments made by the State Government’ and ‘Additional Disclosures’ in the Annual State Government’ and ‘Additional Disclosures’ in the Annual Finance Accounts of the State Government.Finance Accounts of the State Government.

► 7.8 The Detailed Statement of Investments made by the 7.8 The Detailed Statement of Investments made by the Government, on the other hand, shall disclose the major head-wise Government, on the other hand, shall disclose the major head-wise and minor head-wise details of the investments made by and minor head-wise details of the investments made by Governments as also detailed statements of entity wise investments. Governments as also detailed statements of entity wise investments.

► 7.9 Another Detailed Statement of Investments made: Entity wise in 7.9 Another Detailed Statement of Investments made: Entity wise in the Finance Accounts of the Governments shall report details the Finance Accounts of the Governments shall report details including the full name of the entity, the number of shares and the including the full name of the entity, the number of shares and the total amount invested. While indicating the details, the shares total amount invested. While indicating the details, the shares purchased and those allotted as bonus shall be depicted separately purchased and those allotted as bonus shall be depicted separately along with year of allotment and then added together to give the along with year of allotment and then added together to give the total number of shares. It shall also disclose the total paid up capital total number of shares. It shall also disclose the total paid up capital of the entity and its current net worth. This would help indicate the of the entity and its current net worth. This would help indicate the extent of government control and whether the investment has extent of government control and whether the investment has appreciated or depreciated. Moreover, where the shares are traded appreciated or depreciated. Moreover, where the shares are traded in the market, the amount of investment in terms of market value in the market, the amount of investment in terms of market value shall also be disclosed as on the last date of the reporting period. shall also be disclosed as on the last date of the reporting period.

► 7.10 The amount of dividend received and 7.10 The amount of dividend received and credited to government revenue shall also be credited to government revenue shall also be reported entity wise. In case the dividend received reported entity wise. In case the dividend received pertains to previous accounting periods the figure pertains to previous accounting periods the figure would be starred and the year to which the amount would be starred and the year to which the amount actually pertains disclosed in the footnote. In actually pertains disclosed in the footnote. In addition, the dividend declared, though not addition, the dividend declared, though not necessarily paid, shall be disclosed. The net profit necessarily paid, shall be disclosed. The net profit or loss during the year of the entity shall also be or loss during the year of the entity shall also be disclosed and this would help indicate the disclosed and this would help indicate the appropriateness of the dividend amount. appropriateness of the dividend amount.

► 7.11 The Third, Additional Disclosure, shall 7.11 The Third, Additional Disclosure, shall disclose the fresh investments and disclose the fresh investments and disinvestments made during the reporting period. disinvestments made during the reporting period. In addition it would disclose as a note on In addition it would disclose as a note on investments made in entities which have made a investments made in entities which have made a loss in the accounting period along with reasons for loss in the accounting period along with reasons for making the investment. making the investment.

► 7.12 All the figures in the Financial Statements are 7.12 All the figures in the Financial Statements are ‘in lakhs’ of rupees. ‘in lakhs’ of rupees.

8 Effective date8 Effective date

►This Indian Government Accounting This Indian Government Accounting Standard becomes effective for the Standard becomes effective for the financial statements effective for the financial statements effective for the Financial Statements covering periods Financial Statements covering periods beginning 1 April of the year after the beginning 1 April of the year after the notification of the Standard by the notification of the Standard by the Government.Government.

9- Format for disclosure9- Format for disclosure► Financial Statement of Union / State GovernmentFinancial Statement of Union / State Government

Statement of Investment made by the Union / State GovernmentSection 1: Summary Investments: Investee Group wise

(Rs in Lakhs)

InvesteeInvesteeGroupGroup

Balance onBalance onApril 1,April 1,20X020X0

Invest-Invest-mentsmentsmademadeduring theduring theyearyear

DisinvestDisinvestmentsmentsduring theduring theyearyear

Balance onBalance onMarch 31,March 31,20X120X1(2+3) - (4)(2+3) - (4)

NetNetincrease/increase/decreasedecreaseduring theduring theyearyear(2-5)(2-5)

11 22 33 44 55 66

► Section 2: Summary of Investments : Section 2: Summary of Investments : Sector wiseSector wise

SectorSector Balance onBalance onApril 1,April 1,20X020X0

Invest-Invest-mentsmentsduring theduring theyearyear

Disinvest-Disinvest-mentsmentsduring theduring theyearyear

Balance onBalance onMarch 31,March 31,20X120X1(2+3) - (4)(2+3) - (4)

NetNetincrease/increase/decreasedecreaseduring theduring theyearyear(2-5)(2-5)

11 22 33 44 55 66

► Section: 1 Detailed Statement of Investments made Section: 1 Detailed Statement of Investments made by the Union / State Governmentsby the Union / State Governments

Sl. Sl. NNoo

Name of Name of the the conconcercernn

Details of investmentDetails of investment Total Total amamouountnt

Net paid Net paid up up capcapitalital

Net worth/ Net worth/ net net asset asset LiabilLiability ity positipositionon

Market Market value value of of investinvest- - ment/ ment/ Fair Fair ValueValue

Net Net proprofit/ fit/ loslosss

Amount of Amount of dividdividend end receivreceived ed and and creditcredited to ed to GoveGovern- rn- ment ment durinduring the g the yearyear

Amount of Amount of DividDividend end DeclaDeclaredred

11 22 33 44 55 66 77 88 99 1010 1111 1212

► Section- 2 : Major and Minor Head wise Section- 2 : Major and Minor Head wise Details of InvestmentsDetails of Investments

Major HeadMajor Head Minor HeadsMinor Heads Balance on Balance on April 1, April 1, 20X020X0

Invest-ments Invest-ments During During the yearthe year

Disinvest- Disinvest- ment ment during during the yearthe year

Balance on Balance on March March 31, 31, 20X120X1

Net Increase/ Net Increase/ decreasdecrease e during during the year the year (3-6) (3-6)

Divident Divident ReceiveReceivedd

11 22 33 44 55 66 77 88

Additional DisclosuresAdditional Disclosures

► Fresh Investments made during the yearFresh Investments made during the year

( In lakhs of rupees)( In lakhs of rupees)Investee Investee

EntityEntityInvestmentInvestment disinvestmentdisinvestment

Type of unitsType of units Number of unitsNumber of units Total amount Total amount investedinvested

Type of unitsType of units Number of Number of unitsunits

Total amount of Total amount of disinvestmentdisinvestment

11 22 33 44 55 66 77

► Fresh Investment made during the year in those entities Fresh Investment made during the year in those entities

which suffered a net loss during the last yearwhich suffered a net loss during the last year Name of the Name of the

Investee Investee EntityEntity

Investment made during the year 2010-Investment made during the year 2010-1111

Amount of Investment as on Amount of Investment as on March 31, 2011March 31, 2011

Net loss Net loss dudurinring g 20201010--

20201111

Resons for Resons for invesinves

ttment ment

durinduring g

20102010-11-11

Type of Type of UnUnitit

Number Number of of unitsunits

Total Total amoamountunt

Type of Type of uniunitsts

NumbeNumber r of of uniunitsts

Total Total amamouountnt

11 22 33 44 55 66 77 88 99

Indian Government Accounting Indian Government Accounting Standard-10Standard-10

► Public Debt and Other Liabilities of GovernmentsPublic Debt and Other Liabilities of Governments::Disclosure RequirementsDisclosure Requirements

► Introduction Introduction ► 1. In terms of Article 292 of the Constitution, the 1. In terms of Article 292 of the Constitution, the

executive power of the Union extends to borrowing executive power of the Union extends to borrowing upon the security of the Consolidated Fund of India upon the security of the Consolidated Fund of India within such limits, if any, as may from time to time within such limits, if any, as may from time to time be fixed by Parliament by Law. Article 293(1) of the be fixed by Parliament by Law. Article 293(1) of the Constitution provides a similar provision in respect Constitution provides a similar provision in respect of State Governments. Section 48A(1) of the of State Governments. Section 48A(1) of the Government of Union Territory Act 1963 and Section Government of Union Territory Act 1963 and Section 47A(1) of Government of NCT of Delhi Act 1991, also 47A(1) of Government of NCT of Delhi Act 1991, also provides for borrowing upon the security of the provides for borrowing upon the security of the Consolidated Fund of the Union Territory concerned Consolidated Fund of the Union Territory concerned or Consolidated Fund of the Capital within such or Consolidated Fund of the Capital within such limits, if any, as may be fixed by Parliament by law limits, if any, as may be fixed by Parliament by law and the stipulations indicated therein.and the stipulations indicated therein.

► Objective Objective ► 2. The objective of the IGAS is to lay down 2. The objective of the IGAS is to lay down

the principles for identification, the principles for identification, measurement and disclosure of public measurement and disclosure of public debt and other obligation of Union and the debt and other obligation of Union and the State Governments including Union State Governments including Union Territories with legislatures in their Territories with legislatures in their respective financial statements. It ensures respective financial statements. It ensures consistency with international practices for consistency with international practices for accounting of public debt in order to accounting of public debt in order to ensure transparency and disclosure in the ensure transparency and disclosure in the financial statements of Government for financial statements of Government for the benefit of various stake holders. the benefit of various stake holders.

►Scope Scope ► 3. The proposed IGAS shall apply to 3. The proposed IGAS shall apply to

the financial statements prepared by the financial statements prepared by the Union and State Governments and the Union and State Governments and Union Territories with legislature. The Union Territories with legislature. The IGAS shall also cover “other IGAS shall also cover “other obligations” as defined in paragraph 4 obligations” as defined in paragraph 4 of this Standard relating to definitions. of this Standard relating to definitions. The IGAS shall not include in its ambit, The IGAS shall not include in its ambit, guarantees and other contingent guarantees and other contingent liabilities and non-binding assurancesliabilities and non-binding assurances

►Definitions Definitions ► 4. The following terms used in this standard shall have the meaning as 4. The following terms used in this standard shall have the meaning as

specified hereunder, unless the context otherwise requires:- specified hereunder, unless the context otherwise requires:- ► Accounting AuthorityAccounting Authority means the authority who prepares the means the authority who prepares the

Financial Statements of the Governments. Financial Statements of the Governments. ► Accounting PeriodAccounting Period means the period covered by the Financial means the period covered by the Financial

Statements. Statements. ► Cash Basis of accountingCash Basis of accounting is that wherein accounting transactions is that wherein accounting transactions

of the Union Government, State Government and Government of of the Union Government, State Government and Government of Union Territory with legislature represent the actual cash receipts Union Territory with legislature represent the actual cash receipts and disbursement during a financial year as distinguished from and disbursement during a financial year as distinguished from the amounts due to or by the relevant Government, subject to the the amounts due to or by the relevant Government, subject to the exceptions as may be authorized under the Government exceptions as may be authorized under the Government Accounting Rules 1990 or by any general or special orders issued Accounting Rules 1990 or by any general or special orders issued by the Central Government on the advice of the Comptroller & by the Central Government on the advice of the Comptroller & Auditor General of India. Auditor General of India.

► Consolidated Fund of IndiaConsolidated Fund of India is the fund referred to in Article 266(1) is the fund referred to in Article 266(1) of the Constitution ofIndia. of the Constitution ofIndia.

► Consolidated Fund of a StateConsolidated Fund of a State is the fund referred to in Article is the fund referred to in Article 266(1) of the Constitution of India. 266(1) of the Constitution of India.

► Consolidated Fund of Union TerritoriesConsolidated Fund of Union Territories with Legislature is the fund with Legislature is the fund referred to in Section 47(1) of the Union Territories Act, 1963 and referred to in Section 47(1) of the Union Territories Act, 1963 and Section 46(1) of the Government of National Capital Territory of Section 46(1) of the Government of National Capital Territory of Delhi Act, 1991. Delhi Act, 1991.

► Public Account of IndiaPublic Account of India is the fund referred to in Article 266(2) of is the fund referred to in Article 266(2) of the Constitution of India. the Constitution of India.

► Public Account of a StatePublic Account of a State is the fund referred to in Article 266(2) is the fund referred to in Article 266(2) of the Constitution of India.of the Constitution of India.

► Public Account of Union TerritoryPublic Account of Union Territory is the Public is the Public Account referred to in Section 47A (1) and Section Account referred to in Section 47A (1) and Section 46A (1) of the Government of Union Territories Act, 46A (1) of the Government of Union Territories Act, 1963 and the Government of National Capital 1963 and the Government of National Capital Territory of Delhi Act, 1991 respectively. Territory of Delhi Act, 1991 respectively.

► Financial StatementsFinancial Statements means the Annual Finance means the Annual Finance Accounts of the Union Government, State Accounts of the Union Government, State Governments and Union Territories with legislature. Governments and Union Territories with legislature. It would also include appropriate statements, It would also include appropriate statements, schedules and notes to the above statements. schedules and notes to the above statements.

► GovernmentGovernment means the Union Government or any means the Union Government or any State Government or Government of any Union State Government or Government of any Union Territory with Legislature. Territory with Legislature.

► Face ValueFace Value is the contract value of the Public Debt or is the contract value of the Public Debt or other obligations. other obligations.

► Public DebtPublic Debt includes internal and external debts of includes internal and external debts of the Central Government, State Governments and the Central Government, State Governments and Government of the Union Territory with legislature, Government of the Union Territory with legislature, as applicable. as applicable.

► ““Other obligationsOther obligations” refers to the net outcome of the ” refers to the net outcome of the receipt and payment transactions arising in the receipt and payment transactions arising in the public account. It does not include transactions public account. It does not include transactions categorized as Remittances, Suspense and categorized as Remittances, Suspense and Miscellaneous and Cash BalanceMiscellaneous and Cash Balance

►Measurement & Valuation Measurement & Valuation ►5. The Public Debt and Other 5. The Public Debt and Other

Obligations incurred by Governments Obligations incurred by Governments shall be accounted and reported on shall be accounted and reported on the basis of Face Value. For the the basis of Face Value. For the purpose of reporting external debt, purpose of reporting external debt, changes in the Balance at the end of changes in the Balance at the end of the Accounting Period arising from the Accounting Period arising from variations in the rate of exchange variations in the rate of exchange shall also be reportedshall also be reported

► Disclosure Disclosure ► 6. The financial statements of the Union 6. The financial statements of the Union

Government, State Governments and the Union Government, State Governments and the Union Territories with legislature shall disclose the Territories with legislature shall disclose the following details concerning Public Debt and other following details concerning Public Debt and other obligations:- obligations:-

► (a) the opening balance, additions and discharges (a) the opening balance, additions and discharges during the year, closing balanc3e and net change during the year, closing balanc3e and net change in rupee terms with respect to internal debt; in rupee terms with respect to internal debt;

► (b) the opening balance, additions and discharges (b) the opening balance, additions and discharges during the year, closing balance and net change in during the year, closing balance and net change in rupee terms with respect to external debt, rupee terms with respect to external debt, wherever applicable; wherever applicable;

► (c ) the opening balance, receipts and (c ) the opening balance, receipts and disbursements during the year, closing balance disbursements during the year, closing balance and net change in rupee terms with respect of and net change in rupee terms with respect of other obligations. other obligations.

► 7. The Financial Statements of the Union Government and 7. The Financial Statements of the Union Government and the State governments shall disclose the following details the State governments shall disclose the following details regarding servicing of debt and related parameters for the regarding servicing of debt and related parameters for the current year, preceding year and net change in rupee terms current year, preceding year and net change in rupee terms with respect to – with respect to –

► (a) Interest paid by the governments on public debt, small (a) Interest paid by the governments on public debt, small saving, provident funds, and reserve funds and on other saving, provident funds, and reserve funds and on other obligations. obligations.

► (b) Interest received on loans to State and Union Territory (b) Interest received on loans to State and Union Territory Governments, departmental Commercial Undertakings, PSUs Governments, departmental Commercial Undertakings, PSUs and other Undertaking including Railways, Post & Telegraph. and other Undertaking including Railways, Post & Telegraph.

► (c ) Interest received on other Loans, from investments of (c ) Interest received on other Loans, from investments of cash balances and other items. cash balances and other items.

► 8. External debt of the Central Government shall be 8. External debt of the Central Government shall be classified according to source indicating the currency of classified according to source indicating the currency of transaction. Measurement of face value shall be in respect transaction. Measurement of face value shall be in respect of both the currency of agreement and Indian rupees. It of both the currency of agreement and Indian rupees. It should also disclose the outstanding in terms of exchange should also disclose the outstanding in terms of exchange rate prevailing at the end of the accounting period.rate prevailing at the end of the accounting period.

►Effective date Effective date ►9. This Indian Government 9. This Indian Government

Accounting Standard becomes Accounting Standard becomes effective for the Financial Statements effective for the Financial Statements covering periods beginning on 1st covering periods beginning on 1st April of the year after the notification April of the year after the notification of the Standard by the Government. of the Standard by the Government.

►Format for disclosure Format for disclosure

10. The formats for the disclosures 10. The formats for the disclosures in the form of Tabular Statements in the form of Tabular Statements indicated in Annexure 1 are indicated in Annexure 1 are illustrative in nature. The purpose of illustrative in nature. The purpose of these Statements is to illustrate the these Statements is to illustrate the application of the Standard to assist application of the Standard to assist in clarifying its meaning. The use of in clarifying its meaning. The use of the formats in the same form in the formats in the same form in Finance Accounts is not envisaged. Finance Accounts is not envisaged.

► STATEMENT NO.1 STATEMENT NO.1 SUMMARY OF DEBT POSITIONSUMMARY OF DEBT POSITION► (a)(a) Statement of Public Debt and Other LiabilitiesStatement of Public Debt and Other Liabilities

Name of borrowingsName of borrowings Balance as 1st Balance as 1st April 2011April 2011

Receipt during Receipt during the yearthe year

Repayments Repayments during the during the yearyear

Balance as 1st Balance as 1st March March 20122012

Net Increase / Net Increase / Decrease Decrease

(in Rs.)(in Rs.)

11 22 33 44 55 66

PUBLIC DEBTPUBLIC DEBT

Consolidated FundConsolidated Fund Internal DebtInternal Debt- Market LoansMarket Loans- Treasury BillsTreasury Bills- Securities issued to International Securities issued to International

Fincnail InstitutionsFincnail Institutions- BondsBonds- Ways and Means AdvancesWays and Means Advances- Special Central GovernmentSpecial Central Government- Specurisies againse Small Savings Specurisies againse Small Savings - OthersOthersExternal Debt*External Debt*- Loans from Foreign countriesLoans from Foreign countries- Loans from Multilateral Agencies Loans from Multilateral Agencies

and other Institutionand other Institution- Others Others

OTHER LIABILITIESOTHER LIABILITIESPublice AccountsPublice Accounts- Small Savings, Provident Funds, etc.Small Savings, Provident Funds, etc.- Reserve Funds bearing interestReserve Funds bearing interest- Reserve Funds not bearing interestReserve Funds not bearing interest- Deposits bearing interestDeposits bearing interest- Deposits not bearing interestDeposits not bearing interest

► Statement showing Servicing of Debit and Statement showing Servicing of Debit and

related parametersrelated parameters 2011-122011-12 2010-112010-11 Net Increase / Net Increase /

Decrease Decrease (in Rs.)(in Rs.)

(1) Interest paid by Government-(1) Interest paid by Government-(a) On Public Debt and Small Savings, Provident (a) On Public Debt and Small Savings, Provident

FundsFunds(b) Interest on Reserve Funds(b) Interest on Reserve Funds(c) On other Obligations(c) On other Obligations

GROSS INTERESTGROSS INTEREST

(B) Deduct(B) Deduct(a) interest received on loans to save and Union (a) interest received on loans to save and Union

Territory Governments.Territory Governments.(b) Interest from Departmental Commercial (b) Interest from Departmental Commercial

Undertakings, Public Sector Undertakings Undertakings, Public Sector Undertakings and other undertakings including Railways and other undertakings including Railways and Posts and Telegraphs.and Posts and Telegraphs.

(c) Interest received on other loans, from (c) Interest received on other loans, from investment of cash balances and other investment of cash balances and other items,items,

NET INTERESTNET INTEREST

Percentage of gross interest to the total Percentage of gross interest to the total revenue receipts……………………….revenue receipts……………………….

Percentage of net interest to the total revenue Percentage of net interest to the total revenue receipts………………….receipts………………….

► STATEMENT NO.2STATEMENT NO.2Statement showing details of Foreign LoansStatement showing details of Foreign Loans

Sl.NoSl.No Name of Name of Country / Country /

Institutions Institutions (Foreign (Foreign currency currency indicated indicated

in in brackets)brackets)

OutstandinOutstanding g

balanbalance on ce on 01/0401/04/2011/2011

Additions Additions durindurin

g g 2011-2011-

1212

RepaymeRepayment nt

durinduring g

20112011--

20122012

OutstandinOutstanding g

balancbalance as e as on on

31/03/31/03/20122012

OutstandinOutstanding g

balanbalances as ces as

on on 31.03.31.03.2912 2912 (In (In

crores crores of of

rupeerupees)s)

Oustaing Oustaing balanbalances as ces as

on on 31.0331.03.2012 .2012 ( In ( In

crores crores of of

rupeerupees)s)

Exchange Exchange Rates Rates adoptadopt

ed ed 31/0331/03/2012/2012

( Donor Currency in thousands at Historical Value)( Donor Currency in thousands at Historical Value) (Expressed (Expressed in in

terms terms of of

HistorHistorical ical

Value)Value)

(Converted (Converted at at

CurreCurrent nt

ExchaExchange nge

Rate)Rate)

1-1- (Austria (Euro) (Austria (Euro) etcetc

TOTALTOTAL

Major/Minor head of account Opening balance as

on 1.4.20x1

Receipt Disbursement Closing balance as on 31.3.20x2

PART I - CONSOLIDATED FUND

Receipt Heads (Revenue Account)(A) Receipt Heads (Capital Account)(A)

Expenditure Heads (Revenue Account)(A) Expenditure Heads (Capital Account)(A)

TOTAL - E - Public Debt

F — Loans and Advances

G — Inter-State Settlement7810 - Inter-State Settlement

TOTAL — Consolidated Fund

PART II — CONTINGENCY FUND

8000 - Contingency Fund III 1

► NN

PART III — PUBLIC ACCOUNT

I — Small Savings, Provident Funds etc.,

J — RESERVE FUNDS —

(a) — Reserve funds bearing Interest —8115 - Depreciation/Renewal Reserve Funds, etc.

TOTAL — Reserve Funds Bearing Interest

(b) - Reserve Funds not Bearing Interest8223 - Famine Relief Fund, etc.

TOTAL — Reserve Funds Not Bearing Interest

TOTAL — J — Reserve Funds

K—DEPOSITS AND ADVANCES—

(a) — Deposits bearing Interest—8336 - Civil Deposits, etc.

TOTAL — DEPOSITS BEARING INTEREST

(b) - Deposits not bearing interest8443 - Civil Deposits, etc.

TOTAL — DEPOSITS NOT BEARING INTEREST

(c) - Advances8550 - Civil Advances, etc.

► M M

TOTAL — Advances   

TOTAL — K — DEPOSITS AND ADVANCES   

L — SUSPENSE ANDMISCELLANEOUS -

  

(a) — Coinage Accounts8656 - Coinage Accounts, etc.

  

TOTAL — Coinage Accounts   

(b) — Suspense8658 - Suspense Accounts, etc.

  

TOTAL — Suspense   

(c) — Other Accounts8670 - Cheques and Bills, etc.

  

TOTAL — Other Accounts   

(d) — Accounts with Governments8679 - Accounts with Governments of other Countries, etc.   

TOTAL — Accounts with Governments of foreign countries  

(e) — Miscellaneous8680 - Miscellaneous Government Account, etc.   

TOTAL — Miscellaneous   

TOTAL — L — SUSPENSE AND MISCELLANEOUS  

M — REMITTANCES   

(a) — Money Orders and other remittances8781 - Money Orders, etc.   

TOTAL — Money Orders and Remittances

(b) — Inter-Government Adjustment Account8786 - Adjusting Account between Central and

State Government

(c) — Exchange Accounts8797 - Exchange Accounts, etc.

TOTAL - M - REMITTANCES

TOTAL - Public Account

N - CASH BALANCE

8999 - Cash Balance, etc.

TOTAL - N - CASH BALANCE

GRAND TOTAL

► STATEMENT NO-4STATEMENT NO-4 STATEMENT OF DEBTS AND OTHER INTEREST BEARING OBLIGATIONS OFSTATEMENT OF DEBTS AND OTHER INTEREST BEARING OBLIGATIONS OF

GOVERNMENTGOVERNMENT

Description of Loans Amount on 1st

April, 20x1

Additions during the year

Discharges during the year

Amount on 31st

March, 20x2

Interest paid on Public debt

1 2 3 4 5 6

E - PUBLIC DEBT

6001- Internal Debt of the UnionGovernment 101 - Market Loans

1. Market loans bearing interest2. Market loans not bearing

interest3. Market Loans Suspense

Account103 - Treasury Bills and connected

Securities issued to R.B.I., etc.

6002- External Debt 202 - Loans from the Federal Austrian Government, etc.

TOTAL - PUBLIC DEBT

► STATEMENT NO.5STATEMENT NO.5 DETAILS OF MARKET LOANS RAISED IN INDIA AND SECURITIES DETAILS OF MARKET LOANS RAISED IN INDIA AND SECURITIES

ISSUED TO INTERNATIONALFINANCIAL INSTITUTIONSISSUED TO INTERNATIONALFINANCIAL INSTITUTIONS

Details Loans and Securities When raised Amount on 1st

April, 20x1

Additions during the year

Discharges during the year

Amount on 31st

March, 20x2

1 2 3 4 5 6

E - PUBLIC DEBT A — Internal Debt of the Union

Government1. Market Loans(a) Market loans bearing interest

etc.(i) Treasury Bills and Connected

Securities issued to RBI —(ii) 364 days Treasury Bills182 days Treasury BillsSecurities issued to the International

Financial Institutions(iii)Special Securities issued to RBI etc.Etc.

TOTAL