CAG pushes for upgraded manual to improve urban local body finances

The CAG is pushing for an upgraded municipal accounts manual, NMAM 2.0, to improve financial transparency and accountability in urban local bodies. This upgrade is crucial for robust and digital accounting systems, essential for meeting rising expectations and ensuring credible spending amidst increasing urbanization and funding. The manual's enhancement is vital as urban areas, home to a significant and growing population, contribute substantially to India's GDP and receive substantial funding increases.