CAG prioritizes enhancing local body account maturity for better governance

• Comptroller and Auditor General K Sanjay Murthy emphasizes improving local body account maturity for better asset management and operational efficiency.
• CAG will support state governments in preparing higher quality accounts, building on observations about current account quality.
• Ministry of Housing and Urban Affairs' City Finance Portal has enhanced transparency by centralizing local body account uploads.
• CAG is conducting a pilot analysis of 700 local body accounts to assess their maturity across various geographies.
• 16th Finance Commission grants have more than doubled, with the Urban Challenge Fund offering over 4 lakh crore in potential investment.