Introduction:

Total economy as per System of National Accounts (SNA) is divided into 5 institutional sectors, namely, general government sector, financial corporate sector, non-financial corporate sector, household sector and NPISH (Non-Profit Institutions Serving Households). However while compiling National accounts statistics in India, these institutional units in the economy are grouped into 3 sectors (i) Public Sector (ii) Private sector and (iii) Household Sector. Local bodies are part of the general government and hence covered in public sector.

GSDP is an important indicator to measure the growth of different sectors of economy and socio-economic development. Thus, the GSDP estimates are very important for policy makers, administrators, planners and researchers.

Local Bodies:

There are total 12,002 (as on year 2022-23) local bodies in Chhattisgarh. Local bodies are of two types: - (1) Rural Local Bodies  (2) Urban Local Bodies .

In rural local bodies Zila Panchayat, JanpadPanchayat and Gram Panchayat are there. Similarly in urban local bodies there are Nagar Nigam, Nagar Palika and Nagar Panchayat.

Importance of Accounts of Local Bodies:

Keeping decentralization of schemes in mind currently there is great demand of economic and purpose wise classification of accounts of local bodies. This classification provides their sources of income and expenditure. This classification is done under guidelines of Central Statistics Office, New Delhi. Following accounts generated from this – (1) Borrowing Account (2) Capital Finance Account (3) Capital Formation By type of Assets (4) Estimates of net Product (5) Income Outlay Account. Which is further used for preparing estimates of National and State income.

Coverage of Local Bodies:

In the state of Chhattisgarh, data is collected from all the Nagar Nigam, Nagar PalikaParishad, Nagar Panchayat, ZilaPanchaya, and JanpadPacnhayat and Gram Panchayat.