The Government Accounting Standards Advisory Board (GASAB) will publish a national report that would capture the Asset Accounts for Mineral and Energy Resources across 28 States and one Union Territory.
About Natural Resource Accounts (NRA)
- The Natural Resource Accounts (NRA) capture details of 34 major minerals, 58 minor minerals and all four fossils fuels.
- Once this report is published, policymakers will get a complete picture of mineral and energy resources in the country and this would help them take informed policy decisions and make appropriate interventions.
- India is a signatory to the September 2016 UN General Assembly Resolution—“Transforming the World, the 2030 agenda for Sustainable Development” which requires the preparation of Natural Resource Accounts (NRA).
- Asset accounts is the first stage of NRA with the final third stage being environmental accounting.
National level asset accounts for four major resources
- Mineral and energy resources are among the four major resources that India has chosen to prepare national level asset accounts.
- The other three are water resources; land resources; and forestry and wildlife resources.
About GASAB
- GASAB is handholding the State Governments in preparation of Asset Accounts and helping them conform to the international obligations around NRA.
- Comptroller and Auditor General of India (C&AG) constituted Government Accounting Standards Advisory Board (GASAB) with the support of Government of India through a notification dated 12th August, 2002.
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