Common use of Accounting Practice Clause in Contracts

Accounting Practice. Even if the ULBs start levying user charges, absence of a ring-fenced account for each urban service will not allow accumulating the internal reserve for future major investments. This often leads ULB to wait for grants from the various national and state schemes for the major capital investments, which would result in failure to expand infrastructure commensurate with the demographic growth.

Accounting Practice. Even if though the ULBs start levying user charges, absence of a ring-fenced account for each urban service will not allow inhibits accumulating the internal reserve for future major investments. This often leads ULB to wait for grants from the various national and state schemes for the major capital investments, which would result investments resulting in failure to expand infrastructure commensurate with the demographic growth.